The Stern/Nordhaus controversy has polarized the widely disparate beliefs about what to do in order to tackle the climate challenge. To explain differences in results and policy recommendations, comments following the publication of the Stern Review have mainly focused on the role played by the...

This paper aims at providing a consistent framework to appraise alternative modeling choices that have driven the so-called "when flexibility" controversy since the early 1990s dealing with the optimal timing of mitigation efforts and the Social Cost of Carbon (SCC). The literature has...

Climate change is often seen as an issue of intertemporal consumption trade-off: consume all you want today and face future climate damages, or sacrifice consumption today to implement costly climate policies and avoid future climate damages. When assuming enduring technological progress, a...