A new international climate change agreement that will have legal force and be applicable to all countries is being negotiated under the auspices of the United Nations Framework Convention on Climate Change (UNFCCC). The agreement is to be adopted by 2015 and come into effect from 2020. An...

The aim of this paper is to explore what a flexible and durable 2015 climate change agreement could look like and propose pragmatic options for the design of such an agreement. A durable 2015 climate change agreement would continue to be ambitious, fair and effective in 2020 and beyond. An...

Limiting the increase in global average temperature to below 2°C compared to pre-industrial levels will require ambitious mitigation action by a broad range of actors including Parties to the United Nations Framework Convention on Climate Change (UNFCCC), i.e., national governments, and...

This paper estimates that the macroeconomic damages from climate change are six times larger than previously thought. We exploit natural variability in global temperature and rely on time-series variation. A 1°C increase in global temperature leads to a 12% decline in world GDP. Global...

Climate change is a phenomenon beset with major uncertainties and researchers should include them in Integrated Assessment Models. However, including further dimensions in IAM models comes at a cost. In particular, it makes most of these models suffer from the curse of dimensionality. In this...

This paper introduces geoengineering into an optimal control model of climate change economics. Together with mitigation and adaptation, carbon and solar geoengineering span the universe of possible climate policies. Their wildly different characteristics have important implications for climate...

We study the capacity to meet food demand under conditions of climate change, economic and population growth. We take a novel approach to quantifying climate impacts, based on a model of the global economy structurally estimated on the period 1960 to 2015. The model integrates several features...

We study the long-term impact of climate change on economic activity across countries, using a stochastic growth model where labor productivity is affected by country-specific climate variables—defined as deviations of temperature and precipitation from their historical norms. Using a...

Methane abatement and geoengineering have a short-lived effect on temperature compared with carbon abatement. Different optimal tax paths for these actions arise in a cost-benefit framework with an unknown temperature threshold where severe and irreversible climate impacts, called a tipping...

This paper describes an integrated assessment model with an unknown temperature threshold where severe and irreversible climate impacts, called a tipping point, occurs. The possibility of tipping leads to the following linked outcomes: a prolonged period of peak temperature; a rebound in...