The urgency of estimating the impact of climate risks on the financial system is increasingly recognized among scholars and practitioners. By adopting a network approach to financial dependencies, we look at how climate policy risk might propagate through the financial system. We develop a...

This paper explores the long–run development of an economy with a traditional sector based on common-pool resource-use, a modern, resource-independent sector with fixed entry costs, and an imperfect capital market. We show theoretically that introducing resource-use regulations increases...

Promotion of pro-social behavior in social dilemmas has been subject to an increased interest among social scientists and policy makers due to the relevance of Common Pool Resources (CPR) in long-run human well-being. Although economists know a lot about the effect of incentives on pro-social...

This paper examines developments in the renewable electricity sector in Brazil and China since 2000. The two countries share many interests with respect to solar and wind power, but institutional differences in state-business relations led to different outcomes. In China, in a context of state...

Untreated natural gas is a colorless and an odorless substance, difficult to detect in ambient air. Odorization is is process of adding an odor to natural gas, and it is crucial for safe gas consumption, as it allows a lay person to detect gas leakages and to take measures to eliminate them. An...

In this paper we analyse biomethane injection into the grid from the perspective of a degree of fit between the level of technology and the formal institutions (laws and regulations) supporting it. We conclude that there are situations in which biomethane produced cannot be injected into the...

Our food supply rests on a foundation of agricultural seed. As the world races to meet soaring food demand, the development and control of this fundamental genetic resource will be of critical concern to the entire human community. Seed, once treated as a shared public good and natural resource,...

Tackling China's grave environmental problems increasingly turns on questions of sub-national interjurisdictional relations. What are the conditions under which neighboring localities cooperate in stewardship of the natural environment? What factors give rise to interjurisdictional conflict such...

In this paper, we investigate the optimal taxation policy in a differential oligopoly game where the competing firms share the access to a productive renewable resource. We show that, in a linear Feedback Nash Equilibrium of the game, a linear Markov tax, imposed on the output, and specified as...

This Article explores constitutional limits and regulatory openings for innovative state policies to mitigate climate change by promoting climate-friendly, renewable energy. In the absence of a comprehensive federal policy approach to climate change and clean energy, more and more states are...