News - anticipated changes of an economy's fundamentals - drive the business cycle. Climate change is big news: it will impact the economy profoundly, but its full effect will take time to materialize. To better understand the transmission of news, this paper focuses on climate-change...

This working paper analyses the nature of international adaptation finance received in Kenya and Tanzania, with particular emphasis on the extent to which the projects were devolved and thus potentially more responsive to the priorities for climate change adaptation as determined by local...

Climate change is a priority area in European and broader Western initiatives for global security, with a significant focus on Africa. This paper argues that advancing the climate security agenda in Africa necessitates an approach oriented towards integrating climate adaptation and finance into...

Since the mid-2000s, a global effort has been made to tackle deforestation and forest degradation in order to reduce greenhouse gas emissions and conserve biological diversity. On the basis of agreements within the United Nations Framework Convention on Climate Change, an international forest...

The European Union needs to raise significant resources to finance a just green transition. At the same time, there is a widespread fiscal regressivity in many EU countries. Indeed, recent empirical evidence shows that the tax systems of many EU members are characterized by low degrees of...

The paper introduces an integrated approach, blending Opinion Dynamics with a Macroeconomic Agent-Based Model (OD-MABM). It aims to explore the co-evolution of climate change mitigation policy and public support. The OD-MABM links a novel opinion dynamics model that is calibrated for European...

Este informe fue preparado por la Comisión Económica para América Latina y el Caribe (CEPAL) en coordinación con la Oficina del Alto Representante para los Países Menos Desarrollados, los Países en Desarrollo sin Litoral y los Pequeños Estados Insulares en Desarrollo (UN-OHRLLS), para la...

A multivariate GARCH model of natural resources is specified to capture the effects of time varying portfolio risk. A special feature of the model is the inclusion of realized volatility for natural resource assets that are available at multiple frequencies as well as being sensitive to sudden...