Policy advocates frequently request for unilateral action to push forward climate protection in international negotiations. It is yet conventional wisdom in environmental economics that unilateral action does not pay for the first mover due to free-riding behavior of the other countries. How...

Thermoelectric power plants depend on cooling water drawn from water bodies. Low river run-off and/or high water temperatures limit a plant’s production capacity. This problem may intensify with climate change. To what extent do such capacity reductions affect electricity spot markets? Who...

The paper considers an industry where production costs rise due to pollution, but where this effect can be partially off-set by investing in adaptation as a private good. The focus is not on external effects, but industries where economies of scale are introduced from adapting to pollution. The...

This study examines by which design properties international cooperation can effectively facilitate specific climate adaptation processes at the local level. First, a qualitative meta-analysis of empirical evidence from 23 cases is conducted to identify archetypal patterns of barriers and change...

This paper studies institutional change as a response to anticipated changes in the natural environment. Power plants occasionally need to be curtailed during heat waves, causing economic losses and putting electricity supply at risk. This problem likely exacerbates due to global warming, so...

Based on the observation that energy costs have been decreasing over much of the 20th century, this paper extends the Romer (1990) model of endogenous technological change to examine the impact of secular changes in energy costs on technological progress and long-run growth. The key finding is...