The theory of the “Green Paradox” subverts the traditional theoretical foundation of the environmental policies. The crucial question is whether the green paradox holds and how large the impact is in reality, which has provoked heated debate among economists. This article identifies and...

In order to limit global mean temperature increase, long-term greenhouse gas emissions need to be reduced. This paper discusses the implications of greenhouse gas emission reductions for major Asian regions (China, India, Indonesia, South-East Asia, Japan and Korea) based on results from the...

Many countries have pledged targets or actions to reduce greenhouse gas emissions; these have been listed in the Appendices to the Copenhagen Accord and, at the time of writing, are being transferred to the UNFCCC Cancún Agreements. This analysis examines the costs and effectiveness of these...

Die Verhandlungen zur Fortschreibung des Kyoto-Protokolls in Durban Ende 2011 haben gezeigt, dass kurz- bis mittelfristig mit keinem verbindlichen und ambitionierten globalen Abkommen zur Treibhausgasreduktion zu rechnen ist. Vor diesem Hintergrund gewinnt die klimapolitische Strategie der...

Recent research in financial economics has shown that rare large disasters have the potential to disrupt financial sectors via the destruction of capital stocks and jumps in risk premia. These disruptions often entail negative feedback effects on the macroeconomy. Research on disaster risks has...

Climate skeptics typically argue that the possibility that global warming is exogenous, implies that we should not take additional action towards reducing emissions until we know what drives warming. This paper however shows that even climate skeptics have an incentive to reduce emissions: such...

Auf nationaler und auf europäischer Ebene sind die zuvor bestehenden Klimaziele deutlich verschärft worden. Die neuen Vorgaben, mit denen in Deutschland 2045 und in der EU27 bis 2050 Treibhausgasneutralität erreicht werden soll, werden ebenso dargestellt wie die Instrumente, mit denen die...

Der Klimawandel wird einen tiefgreifenden Einfluss sowohl auf die europäische als auch die globale Wirtschaft haben. Bei der Frage nach dem Handlungsbedarf für Zentralbanken wie die EZB ist unstrittig, dass Zentralbanken notwendige Schritte zu Sicherstellung von Preis- und Finanzstabilität im...

Climate change involves fundamental international asymmetries in terms of its sources and impacts. The World Development Report 2010 presents an optimistic picture of the possibilities for tackling global warming, its optimism rather at odds with the gloomy prospects that may well be in store...