Integrated assessment models have become the primary tools for comparing climate policies that seek to reduce greenhouse gas emissions. Policy comparisons have often been performed by considering a planner who seeks to make optimal trade-offs between the costs of carbon abatement and the...

We find that banks' credit exposures to transition risks are modest. We build on the estimated sectoral effects of climate transition policies from general equilibrium models. Even when we consider the strictest policies or the most adverse scenarios, exposures do not exceed 14 percent of banks'...

Climate change threatens the economy of the United States through increased flooding and storm damage, climate-driven changes in crop yields, disruptions in labor productivity, crime, and public health and heat-related strains on energy systems. Combining current data with state-of-the-art...

In recent years the analysis of US climate policy on the electricity sector has predominantly deployed electricity planning or capacity expansion models that use deterministic or equilibrium optimization methods. While uncertainty in key input assumptions is considered, it is usually restricted...

This paper investigates the interrelation between adaptation and climate protection efforts of individuals in a cross-country comparison. The theoretical predictions based on a subjective utility framework demonstrate that, at the individual level, private adaptation and climate protection...