premium into the model, results show a substantial increase in both mitigation and adaptation, reflecting a more conservative … attitude by the social planner. Interestingly, adaptation is stimulated more than mitigation in the first half of the century … doubles, than adaptation, which rises by about 80%. …

This paper contributes to the normative literature on mitigation and adaptation by framing the question of their … absence of a coordinated global agreement on climate change and to realign the policy balance from adaptation toward more … mitigation. Our analysis also shows that adaptation transfers from and strategic unilateral commitments to adaptation in …

problems. In an attempt to advance in the modelling of adaptation within IAM models, we apply this methodology to shed some … light on how the optimal balance between mitigation and adaptation changes under different stochastic scenarios. We find … that stochastic technology growth hardly affects the optimal bundle of mitigation and adaptation whereas uncertainty about …

temperature on TFP. Finally, we show that faster adaptation to temperature shocks results in lower welfare costs. These welfare … benefits become substantially higher in the presence of permanent improvements in the speed of adaptation. …

Commission adopted a new Strategy on Adaptation to Climate Change aiming to reinforce the adaptive capacity and minimize … with respect to both the intertemporal consumption and the mix between an insurance (adaptation) against the magnitude of …

This paper contributes to the normative literature on mitigation and adaptation by analyzing their optimal policy … substantive emission reductions, do not succeed. The policy balance is realigned from adaptation toward more mitigation, and the … responsiveness of mitigation to changes in adaptation decreases. Compared to a world without climate catastrophes, risk reduces the …