Intro -- Series Announcement Page -- Title Page -- Copyright Page -- Dedication -- Table of Contents -- Series Foreword -- Preface -- Acknowledgments -- 1. Why Carbon Pricing Is Appealing -- 2. Why Politicians Are Reluctant to Price Carbon -- 3. Why Carbon Pricing Has Often Failed -- 4. When...

Climate policies vary widely across countries, with some countries imposing stringent emissions policies and others doing very little. When climate policies vary across countries, energy-intensive industries have an incentive to relocate to places with few or no emissions restrictions, an effect...

Climate change poses severe systemic risks to the financial sector through multiple transmission channels. In this paper, we estimate the potential impact of different carbon taxes (€50, €100, €200 and €800 per ton of CO2) on the Italian banks’ default rates at the sector level in the...

We study local carbon policy to address the consequences of climate change. Standard analysis suggests that the social cost of carbon determines optimal carbon policy. We start by using the spatial integrated assessment model in Cruz and Rossi-Hansberg (2021) to measure the local social monetary...

The federal government intends to increase its minimum carbon tax from $40 per tonne of carbon emissions to $170 per tonne by 2030. The carbon tax increase will have uneven and potentially large impacts on provincial emissions and carbon tax revenue, but little is known about how decisions to...

Canada's federal carbon-pricing scheme and its subnational counterparts might not be sufficient to meet the target of net zero by 2050. In the meantime, carbon dioxide (CO2) emitters are allowed to profit by externalizing environmental costs and risks on to present and future taxpayers. When the...

Policy makers worldwide have increasingly considered the adoption of a carbon adjustment at the border to equalize carbon pricing on foreign goods with carbon policies imposed on domestic production. The implementation of a border carbon adjustment (BCA) in the European Union has been recently...

Climate change is a classic externality and is caused due to increased absorption of GHG emissions in the atmosphere from human activities and natural disasters in the environment and to the society as one of the sources. Putting a price on carbon may help in economic development in India as...