We present a modification of the most commonly used integrated assessment model (IAM) of climate change (DICE-2016), AD-DICE2016, which is designed to address three key aspects of climateeconomy models: treatment of uncertainty, the use of more appropriate utility functions, and including...

This paper contributes to the normative literature on mitigation and adaptation by analyzing their optimal policy balance in the context of climate catastrophic risk. The investigation enriches an integrated assessment model introducing the endogenous link between the probability of experiencing...

This paper studies the effect of climate policy uncertainty on firm polluting behavior. I find that firms reduce toxic emissions and close toxic facilities during the heightened climate policy uncertainty periods. Firms respond to climate policy uncertainty by adopting abatement technology to...