Geopolitical conflicts have increasingly been a driver of trade policy. We study the potential effects of global and persistent geopolitical conflicts on trade, technological innovation, and economic growth. In conventional trade models the welfare costs of such conflicts are modest. We build a...

Climate change mitigation faces two main policy challenges: the need for global cooperation to tackle the collective action problem and the need to share the burden of global carbon pricing fair way following the principle of common but differentiated responsibility (CBRD). In this paper we...