A two-tier climate club exploits the comparative advantage of large countries to mete out punishments through trade, while taking their capacity to resist punishment as a constraint. Countries outside the coalition price carbon at a fixed fraction of the average carbon price adopted within the...

This paper examines the effectiveness of sub-national actions to control a novel disease, such as COVID-19, in the absence of a national policy. Evidence is emerging that countries where sub-national governments have undertaken unilateral social distancing measures to combat the pandemic with...

We examine the effectiveness of sub-national actions to control a novel disease, such as COVID-19, in the absence of national policy. Evidence shows that countries where sub-national governments have undertaken unilateral social distancing measures to combat the pandemic with little or no...

Beliefs about the arrival time of a vaccine have a large effect on optimal social distancing in an SIR model, though the relationship is complex. A higher mean vaccine arrival time can increase or decrease optimal distancing depending on assumptions. We analytically demonstrate two channels that...

A two-tier climate club exploits the comparative advantage of large countries to mete out punishments through trade, while taking their capacity to resist punishment as a constraint. Countries outside the coalition price carbon at a fixed fraction of the average carbon price adopted within the...

The paper proposes an agreement structure that extends Nordhaus's (2015) climate club by adding a second tier. Countries outside the coalition are required to price carbon at a fixed fraction of the average carbon price adopted within the coalition, or face tariffs. Coalition countries abate...