Climate stabilization requires low GHG emissions. Is this consistent with nondecreasing human welfare? Our welfare index, called quality of life (QuoL), emphasizes education, knowledge, and the environment. We calibrate a multigenerational model with education, physical capital, knowledge and...

Agricultural production is heavily dependent on water availability for increasing productivity and decreasing volatility in production. However climate change is expected to increase the sectoral competition for water resources and raise the need for major changes in water policies. This study...

The Kyoto Protocol has not only created carbon emission reduction obligations for industrialized countries, but also opportunities for the private sector to participate in its "flexible mechanisms". One of these mechanisms is Joint Implementation, which allows private legal entities to engage in...

Answering to the formidable challenge of climate change calls for a quick transition to a future economy with a drastic reduction in GHG emissions. And this in turn requires the development and massive deployment of new low-carbon energy technologies as soon as possible. Although many of these...

How do grain markets respond to extreme rainfall in West Africa? This paper examines the effect of weather on grain market performance in Niger, a country affected by droughts, crop failures and famines since the 1930s. Using a dataset that combines information on rainfall, agricultural...

We study the impact of global climate change on the prevalence of tropical diseases using a heterogeneous agent dynamic general equilibrium model. In our framework, households can take actions (e.g., purchasing bed nets or other goods) that provide partial protection from disease. However, these...

The prevailing literature discusses intergenerational trade-offs predominantly in infinitely-lived agent models despite the finite lifetime of individuals. We discuss these trade-offs in a continuous time OLG framework and relate the results to the infinitely-lived agent setting. We identify...

This paper discusses the interplay between the choice of the discount rate, greenhouse gas mitigation and endogenous technological change. Neglecting the issue of uncertainty it is shown that the green golden rule stock of atmospheric carbon is uniquely determined, but is not affected by...