We shed new light on the macroeconomic effects of rising temperatures. In the data, a shock to global temperature dampens expenditures in research and development (R&D). We rationalize this empirical evidence within a stochastic endogenous growth model, featuring temperature risk and growth...

Tourism is one of the world's biggest and fastest growing industries. It constitutes the major source of income for many regions including those in emerging countries. The environmental and economic risks arising out of climate change have raised serious concern among nations across the globe....

With climate change appearing on the horizon of economic theory and analytical research, it becomes imperative that the links are traced to the origin of the connection between the economics and climate change. Climate change traditionally, is a subject for meteorologists, ecologist and marine...

For some years now, the Happy Planet Organization presents the so-called ‘Happy Planet Index’ (HPI), which is an index of measuring the trade-off between ecological footprint data and life quality (Happy Life Years, HLYE). Costa Rica emerges from these comparisons as the world’s ‘best...

The goal of this paper is to provide an investigation of several approaches to valuing ecosystem services and to contribute additional techniques which may be used in evaluating `green' GDP accounts. Our estimates focus on the ecosystem as a productive economic input, not a stock which is...

The outbreak of the Russian-Ukraine military conflict has sent chills down the spines of policy makers around the world. In this paper we offer an account of the unfolding military intervention in Ukraine and its concomitant global economic ramifications. By assessing the events that have led up...

Bharat Ratna Dr. Babasaheb Ambedkar: an eminent socio-economic thinker and epoch-maker shaped the economic destiny of India by introducing many tenets of the State Socialism into the Constitution of free India. He was a post-graduate of Columbia University (U.S.) and obtained his doctoral degree...

Reduction of the earth's biodiversity as a result of human activities is a matter of great concern to prominent scientists. What are the economic aspects of this loss? In economic terms, what is biodiversity and why might it matter? And is the loss of biodiversity in any way connected with...