serious constraints on the executive branch, and they also reduce the risk of large-scale instability in government, in which …

shocks, and show how the underlying economic structure affects the risk-adjusted discount rate and the climate risk premium … transition. The time path of the climate risk premium is hump-shaped, with the climate beta playing a dominant role in its … can temporarily reduce aggregate consumption risk, as the climate beta becomes negative in the mid phase of the transition …

productivity shocks, and show how the underlying economic structure affects the risk-adjusted discount rate and the climate risk … transition progresses. The climate risk premium is hump-shaped during the green transition, with the climate beta playing a … correlation between the sectoral shocks, decarbonisation can temporarily reduce aggregate consumption risk, as the climate beta …

We develop a financial-economic model for carbon pricing with an explicit representation of decision making under risk … specifications. We show that risk associated with high damages in the long term leads to stringent mitigation of carbon dioxide … emissions in the near term. Our results provide insight into how a systematic incorporation of climate-related risk influences …

Between 1950 and 2017, world average life expectancy increased from below-50 to above-70, while the fertility rate …

risk -- optimal policy comprises strong controls. To focus on these features and facilitate comparison with Nordhaus' work …