Within the field of environmental economics, the role of technological change has received much attention. The long-term nature of many environmental problems, such as climate change, makes understanding the evolution of technology an important part of projecting future impacts. Moreover, in...

This survey examines the history and current practice in integrated assessment models (IAMs) of the economics of climate change. It begins with a review of the emerging problem of climate change. The next section provides a brief sketch of the rise of IAMs in the 1970s and beyond. The subsequent...

The economic prescription for climate change is clear: price carbon dioxide (CO2) and other greenhouse gas emissions to internalize climate damages. In practice, a variety of political economy constraints prevent the introduction of a carbon price equal to the full social cost of emissions. This...

This paper evaluates the economic and environmental impacts of implementing Costa Ricas Decarbonization Plan, focusing specifically on the Agriculture, Forestry and Other Land Uses (AFOLU) sectors. To do so, we apply the Integrated Economic-Environmental Modeling (IEEM) framework for Costa Rica,...

Climate change has profound effects not only for societies and economies, but also for central banks’ ability to deliver price stability in the future. This paper starts by documenting why climate change matters for monetary policy: it impacts the economic variables relevant to setting the...

The Amazon biome, despite its resilience, is being pushed by unsustainable economic drivers towards an ecological tipping point where restoration to its previous state may no longer possible. This is the result of self-reinforcing interactions between deforestation, climate change and fire. In...

In this paper we study a basic model of economic growth where we integrate a zero-dimensional energy balance model of the Earth. The albedo of the Earth is the piecewise smooth function of the average surface temperature, thus, taking into account possible feedback effects of a higher...

Many international policy problems, including climate change, have been characterized as global public goods. We adopt this theoretical framework to identify the baseline determinants of individual opinion about climate policy. The model implies that support for climate action will be increasing...

This study aims to provide a comprehensive review of key issues related to climate change to economists. For this purpose, we first discuss the established scientific facts of climate change and then discuss their implications to the economy and the field of economics. We start with explaining...

This paper summarizes the economics of climate change. We first review the basics of climate science and the historical evolution of greenhouse gas emissions. We then discuss the relation between climate change and economics and assess the economic costs, direct and indirect, of climate change....