We explore the role of financial development to explain the negative correlation between capital inflows and productivity catch-up. Evidence shows that countries with higher productivity growth rates export capital while countries with lower productivity growth rates receive positive capital...

We describe the construction of an integrated assessment model of the economy and the climate. The framework is quantitatively oriented—it is constructed to account for the main global macroeconomic and climate facts—and its structure is a dynamic, stochastic general-equilibrium model. It is...