I formally relate the consequences of climate change to the time series variation in weather extensively explored by recent empirical literature. I show that reduced-form fixed effects estimators can recover the effects of climate if agents are myopic, if agents' payoff functions belong to a...

A rapidly growing empirical literature seeks to estimate the costs of future climate change from time series variation in weather. I formally analyze the consequences of a change in climate for economic outcomes. I show that those consequences are driven by changes in the distribution of...

The Paris Agreement has set stringent temperature targets to limit global warming to 2°C above preindustrial level, with efforts to stay well below 2°C. At the same time, its bottom-up approach with voluntary national contributions makes the implementation of these ambitious targets...

Land-management options for greenhouse gas removal (GGR) include afforestation or reforestation (AR), wetland restoration, soil carbon sequestration (SCS), biochar, terrestrial enhanced weathering (TEW), and bioenergy with carbon capture and storage (BECCS). We assess the opportunities and risks...

A rapidly growing empirical literature seeks to estimate the costs of future climate change from time series variation in weather. I formally analyze the consequences of a change in climate for economic outcomes. I show that those consequences are driven by changes in the distribution of...