This study tackles a public finance issue on climate change: a carbon tax and government bonds to finance public spending for adaptation. This type of bond is known as ``green bonds" and presents remarkable growth in the global market. We construct an asset-pricing model in which climate change...

This article analyzes the consequences of environmental tax policies when the government imposes a constraint on stabilizing public debt. A public sector of pollution abatement is financed by taxation and by issuing public debt. Considering a simple overlapping-generations model, the tax reform...

This paper examines the importance of induced technological change in considering the efficiency costs of environmental policy. In particular, in modeling an endogenous formation of energy-saving technology through a variety of intermediates, the paper studies the welfare effects of...

We construct a research and development (R&D) based endogenous growth model with exhaustible resources and investigate whether protection of intellectual property rights (IPR) can sustain perpetual growth. We show that relatively weak IPR protection is sufficient to sustain perpetual growth when...

This article analyzes the consequences of environmental tax policies when the government imposes a constraint on stabilizing public debt. A public sector of pollution abatement is financed by taxation and by issuing public debt. Considering a simple overlapping-generations model, the tax reform...