We examine the distributional and efficiency impacts of climate policy in the context of fiscal consolidation in a dynamic general-equilibrium overlapping generations model of the US economy. The model includes a disaggregated production structure, including energy sector detail and advanced...

The foundations of the climate regime are under threat, with significant implications for developing countries. This set of essays identifies two main threats to the climate regime. The first is the growing importance of emissions traded across national borders, currently accounting for up to...

This paper considers investments in cost-reducing technology in the context of contributions to climate protection. Contributions to mitigating climate change are analyzed in a two-period model where later contributions can be based on better information, but delaying the contribution to the...