Current analyses of pathways limiting global warming to well below 2°C, as called for in the Paris Agreement, do not consider the climate impacts already occurring below 2°C. Here we show that accounting for these damages significantly increases the near-term ambition of transformation...

We show that economies may exhibit a strong endogenous macroeconomic adaptation response to climate change. If climate change induces a structural change to the more productive sector, economies can benefit from climate change though productivities in both sectors are reduced. If climate change...

We show that economies may exhibit a strong endogenous macroeconomic adaptation response to climate change. If climate change induces a structural change to the more productive sector, economies can benefit from climate change though productivities in both sectors are reduced. If climate change...

We show that economies may exhibit a strong endogenous macroeconomic adaptation response to climate change. If climate change induces a structural change to the more productive sector, economies can benefit from climate change though productivities in both sectors are reduced. If climate change...

This paper combines neoclassical growth theory with the von Th nen approach of land conversion to model deforestation and land allocation decisions in an intertemporal general equilibrium context suitable for developing countries. Analyzing the impact of several forest conservation policies,...

Using Putnam’s two‐level game approach, we discuss the influence of domestic players that can veto the ratification of international environmental agreements on the breadth and depth of such treaties. We first show that in a symmetric Barrett‐type payoff model, veto-players can restrict...

Carbon dioxide removal from the atmosphere is becoming an important option to achieve net zero climate targets. This paper develops a welfare and public economics perspective on optimal policies for carbon removal and storage in non-permanent sinks like forests, soil, oceans, wood products or...

This paper highlights the importance of carbon dioxide removal (CDR) technologies for climate policy. We first describe their role in iconic transformation pathways and discuss removal costs and storage duration of different technologies. Based on economic principles, we characterize optimal...

We analyze how conventional emissions trading schemes (ETS) can be modified by introducing ”clean-up certificates” to allow for a phase of net-negative emissions. Clean-up certificates bundle the permission to emit CO2 with the obligation for its removal. We show that demand for such...

This paper provides a formal survey of price and quantity instruments for mitigating global warming. We explicitly consider policies' impact on the incentives of resource owners who maximize their profits intertemporally. We focus on the informational and commitment requirements of the...