A large share of the world’s population is employed in manual labor. This paper estimates the effect of fine particulate matter (PM 2.5) on purely physical tasks analyzing half a million amateur track and field competition results, a setting that allows excluding productivity effects through...

This paper studies the optimal extraction of a non-renewable resource under uncertainty using a discrete-time approach in the spirit of the literature on precautionary savings. We find that boundedness of the utility function, in particular the assumption about U(0), gives very different results...

Uncertainty is prevalent in the context of climate change impacts. Moreover, the distribution across the globe is not uniform. We analyze how climate risks could be reduced via an insurance scheme at the global scale across regions and quantify the potential welfare gains from such a scheme....

In this paper we report results from a comparison of numerically calibrated game theoretic integrated assessment models that explore stability and performance of international coalitions for climate change mitigation. Specifically, by means of this ensemble of models we are able to identify...

The difficulty in implementing comprehensive policies aimed at reducing greenhouse gas emissions has led analysts and researchers to wonder about alternative strategies for dealing with climate change. Geoengineering –that is the deliberate reduction of the incoming solar radiation- has...

The potential of geoengineering as an alternative or complementary option to mitigation and adaptation has received increased interest in recent years. The scientific assessment of geoengineering is driven to a large extent by assumptions about its effectiveness, costs, and impacts, all of which...

The difficulty in implementing comprehensive policies aimed at reducing greenhouse gas emissions has led analysts and researchers to wonder about alternative strategies for dealing with climate change. Geoengineering –that is the deliberate reduction of the incoming solar radiation- has...

Uncertainty is prevalent in the context of climate change impacts. Moreover, the distribution across the globe is not uniform. We analyze how climate risks could be reduced via an insurance scheme at the global scale across regions and quantify the potential welfare gains from such a scheme....