We contribute to the literature on private financing of intergenerational public goods, focusing on climate change mitigation. We consider, in a general equilibrium overlapping generations (OLG) model with environmental externalities, a contract between successive generations, whereby agents of...

We contribute to the literature on private financing of intergenerational public goods, focusing on climate change mitigation. We consider, in a general equilibrium overlapping generations (OLG) model with environmental externalities, a contract between successive generations, whereby agents of...

We set up a general model on capital mobility which contains many of the models in the literature as special cases. The race to the bottom results not from a capital flight effect, but rather from a kind of Laffer curve effect in public good provision. Selectively introducing simplifying...

Climate policies, including removing fossil fuel subsidies or imposing carbon prices, can be designed in a way that is both efficient in addressing climate change and results in a fair distribution of the associated costs.

Climate policies, including removing fossil fuel subsidies or imposing carbon prices, can be designed in a way that is both efficient in addressing climate change and results in a fair distribution of the associated costs.

The authors propose a policy package of low-carbon growth stimulation through a steep increase in sustainable infrastructure, mobilizing sustainable finance, and adoption of carbon pricing to simultaneously achieve the objectives of the Paris Agreement and the Sustainable Development Goals.

An economy with clean and dirty intermediate inputs may fall into a trap characterized by low environmental quality and low life expectancy, while the others converge to opposite steady states. We propose new strategies towards sustainable growth. They include: (i) taxes (subsidies) imposed on...

The authors propose a policy package of low-carbon growth stimulation through a steep increase in sustainable infrastructure, mobilizing sustainable finance, and adoption of carbon pricing to simultaneously achieve the objectives of the Paris Agreement and the Sustainable Development Goals.