There is increasing concern among financial regulators that changes in the distribution and frequency of extreme weather events induced by climate change could pose a threat to global financial stability. In order to assess this risk, we develop a simple model of the propagation of...

Climate-induced sea-level rise threatens the world’s coastal populations, critical infrastructure, and ecosystems. The science of sea-level rise (SLR) has developed to inform understanding of global climate mitigation and adaptation challenges, but there is much less engagement with...

This paper studies the effects of mitigation and adaptation on coastal flood impacts. We focus on a scenario that stabilizes concentrations at 450 ppm-CO<Subscript>2</Subscript>-eq leading to 42 cm of global mean sea-level rise in 1995–2100 (GMSLR) and an unmitigated one leading to 63 cm of GMSLR. We also consider...</subscript>

In CBA practices around the world, benefits are valued regardless of to whom they accrue. This disregards basic economic principles, like declining marginal utility of income, or inequality aversion. This paper argues that if redistribution matters, net benefits must be aggregated using a...

According to economic theory, taxation drives a wedge between private and public benefits, which distorts labour supply, consumption and investment and leads to loss of welfare. One would therefore expect that in cost-benefit analysis (CBA) of public expenditure a correction is made for the...