Increased temperature-related mortality is predicted to be one of the largest contributors to future economic damages from climate change globally, with declines in cold-related deaths in some regions outweighed by increases in heat-related deaths in others. Changes in temperature could also...

This paper provides stated preference (SP) estimates of the average social cost of carbon (ASCC) for use in evaluation of the benefits and costs of climate policy. Based on a U.S. nationally representative survey, we find an average individual willingness-to-pay (WTP) of $1,116 per year to keep...

Wildfire activity has increased in the US and is projected to accelerate under future climate change. However, our understanding of the impacts of climate change on wildfire smoke and health remains highly uncertain. We quantify the past and future mortality burden in the US due to wildfire...

There is a rapidly advancing literature on the macroeconomics of climate change. This review focuses on developments in the construction and solution of structural integrated assessment models (IAMs), highlighting the marriage of state-of-the-art natural science with general equilibrium theory....

Firms' perceived cost of green capital has decreased since the rise of sustainable investing. Green and brown firms perceived their cost of capital to be the same before 2016, but after the post-2016 surge in sustainable investing, green firms perceived their cost of capital to be on average 1...

Climate change is making natural disasters more frequent, yet little is known about the capacity of firms to withstand such disasters and adapt to their increased frequency. We examine this issue using a the latest wave of the World Management Survey (WMS) that includes new questions on firms'...

Climate change is increasing the frequency of natural disasters, which could make municipal bonds a riskier asset class. We study the effects of natural disasters on municipal bond returns, exploiting the repeat sales approach to overcome the challenge that municipal bonds trade extremely...

Quantifying factors giving rise to temporal variation in forest fires is important for advancing scientific understanding and improving fire prevention. We demonstrate that eighty percent of the large year-to-year variation in forest area burned in California can be accounted for by variation in...

We survey the microeconomics literature that studies how firms in the developing world are adapting to extreme weather, local pollution, and natural disasters. Climate change increases the uncertainty that every firm must address as it decides where and how to produce and who to trade with. We...

Key methodologies used for managing weather risks have relied on the assumption that climate is not changing and that the historic weather record is therefore representative of current risks. Anthropogenic climate change upends this assumption, effectively reducing the information available to...