We examine the relative benefits of policy aimed at mitigating GHG emissions in Canada and globally. We find that while a carbon tax that holds the stock of global emissions below the 550 ppm level would yield positive net benefits for the world economy, the impact of such a tax on the Canadian...

We build a general equilibrium model to study how climate transition risks affect energy prices and the valuations of different firms in the energy sector. We consider two types of fossil fuel firms: incumbents that have developed oil reserves they can extract today or tomorrow, and new entrants...