A central question in climate policy is whether early investments in low-carbon technologies are a useful first step towards a more effective climate agreement in the future. We introduce a climate cooperation model with endogenous R&D investments where countries protect their international...

We study the variation of global and unilateral carbon price recommendations and their determinants. To this end, we provide survey evidence on carbon pricing from more than 400 experts across almost 40 countries. We quantify the extent of (dis-)agreement and reveal that a majority of experts...

Pricing the emissions of greenhouse gases is widely considered as key to tackling climate change. While carbon pricing schemes are proliferating, the vast majority of emissions is not yet covered. Designing carbon pricing policies requires navigating crucial design choices, such as addressing...

We argue that a global carbon price is the only way to effectively tackle free riding in international climate policy, required to substantially reduce greenhouse gas emissions. We briefly review the main reasons behind the essential role of carbon pricing, address common misunderstandings and...

The study analyses the characteristics of professional exchange rate forecasts for the E/US-$ rate. The results indicate that the quality of forecasts produced by professional economists is rather poor and incompatible with the rational expectations hypothesis. This dismal result is according to...