Global public goods pose great risks, especially when the lack of these goods may have devastating consequences. Climate protection is such a good and it faces a triple dilemma: the so-called Westphalian dilemma of sovereign nation states, a weakest-link dilemma as the success of climate...

This paper explores whether and how well the Philippines' Nationally Determined Contribution (NDC) and National Climate Budget (NCB), derived from the national climate change expenditure tagging system (CCET), are aligned. The CCET was operationalized in 2015 to "provide line and oversight...

The paper develops the Basic Climate Economic (BCE) model featuring the core elements of climate economics and climate policy. The BCE model incorporates fossil stock depletion, pollution stock accumulation, endogenous growth, and climate-induced capital depreciation. We first use graphical...

Climate change not only impacts production and market consumption, but also the relative scarcity of non-market goods, such as environmental amenities. We study fundamental drivers of the resulting relative price changes, their potential magnitude, and their implications for climate policy in...

Balancing economic growth and carbon emissions is crucial for managing irreversible climate change. We investigate the impact of national ESG performance on greenhouse gas emissions and explores the role of environmental policy stringency on this impact. Based on the panel data of 41 countries...

We study how the scarcity of non-market goods, such as environmental amenities, affects the economic appraisal of climate policy. To this end, we perform a comprehensive analysis of the change in relative prices of non-market goods in the widespread climate-economy model DICE. We show that DICE...