Uncertainty has an almost negligible impact on project value in the economic standard model. I show that a comprehensive evaluation of uncertainty and uncertainty attitude changes this picture fundamentally. The analysis relies on the discount rate, which is the crucial determinant in balancing...

This paper takes up the need to engage in substantial investments in the energy producing capital stock to attack the climate change problem, caused by rising carbon dioxide concentrations in the atmosphere. However, the precise magnitudes of economic impacts of global warming as well as...

The precise consequences of climate change remain uncertain. We incorporate damage uncertainty into a joint model of climate and the economy, an integrated assessment model. First, both the science and the integrated assessment community analyze uncertainty by means of sensitivity analysis and...

In this paper, we test the effect of weather shocks and floods on urban social disorder for a panel of large cities in developing countries. We focus on a particular mechanism, namely the displacement of population into (large) cities. We test this hypothesis using a novel dataset on...

Using a case study approach, this research explores the various potential limiting factors of climate change adaptation, based on the experience of four low-lying islands in central Philippines. In the aftermath of the 2013 7.2-magnitude Bohol earthquake, the islands now become flooded even...

With climate change appearing on the horizon of financial and economic resource debate, it becomes imperative that new mechanisms that link financial investment with mitigation and adaption for climate change are designed. Climate change traditionally, is a subject for meteorologists, ecologist...

With climate change appearing on the horizon of economic theory and analytical research, it becomes imperative that the links are traced to the origin of the connection between the economics and climate change. Climate change traditionally, is a subject for meteorologists, ecologist and marine...

Anthropogenic greenhouse gas emissions are changing the energy balance of our planet. Various climatic feedbacks make the resulting warming over the next decades and centuries highly uncertain. We quantify how this uncertainty changes the optimal carbon tax in a stochastic dynamic programming...

We use a comprehensive database of 121 countries over the 1971-2016 period to study how macroeconomic factors drive carbon (carbon-dioxide) emissions. For this purpose, dynamic panel regressions are estimated. Carbon emissions rise with economic development, manufacturing activity, urbanization...

This working paper, part of my Master of Economics and International Business Management, highlights the impacts of environmental changes on society and the multidisciplinary concept of sustainable development. This work focuses on two major actors, financial actors and policy-makers, and their...