The paper develops an analytic integrated assessment model of climate change (AIAM). The model enhances our current understanding of climate policy and explains crucial relations to the broader audience. Is the first quantitative analytic model comprising all the relevant components of its numeric deterministic counterparts used in policy advising. The model comes with a new framework to addres...

We examine whether property price differentials reflecting flood risk increase following a large flood event, and whether this change is temporary or permanent. We use single-family residential property sales in Dougherty County, Georgia, between 1985 and 2004 in a difference-in-differences spatial hedonic model framework. After the 1994 “flood of the century,” prices of properties in the 100ye...

We model dynamic mechanisms for a global commons. Countries benefit from both consumption and aggregate conservation of an open access resource. A country’s relative value of consumption-to-conservation is privately observed and evolves stochastically. An optimal quota maximizes world welfare subject to being implementable by Perfect Bayesian equilibria. With complete information, the optimal q...

The success of global climate policies over the coming decades depends on the diffusion of ’green’ technologies. This requires that international environmental agreements (IEAs) and trade-related intellectual property rights (TRIPs) interact productively. Using a simple and tractable model, we highlight the strategic reduction in abatement commitments on account of a hold-up effect. In anticipa...

This paper argues that life satisfaction data can be used to value natural disasters. We discuss the strengths of this approach, compare it to traditional methods and apply it to estimate and monetize utility losses caused by floods in 17 OECD countries between 1973 and 2004. Using combined cross-section and time-series data, we find a negative impact of floods on life satisfaction that is size...

Firms sometimes comply with externality-correcting policies by gaming the measure that determines policy. This harms buyers eroding information, but it benefits them when cost savings are passed through into prices. We develop a model highlights this tension and use to analyze of automobile carbon emission ratings in EU. document startling increases using novel data. then effects calibrated sim...

This paper examines how subsistence farmers respond to extreme heat. Using microdata from Peruvian households, we find that high temperatures reduce agricultural productivity, increase area planted, and change crop mix. These findings are consistent with using input adjustments as a short-term mechanism attenuate the effect of heat on output. response seems complement other coping strategies, s...

This study argues that economic vulnerability causes citizens to participate in clientelism, a phenomenon with various pernicious consequences. To examine how reduced affects citizens’ participation we employ two exogenous shocks vulnerability. First, designed randomized control trial reduce household vulnerability: our development intervention constructed residential water cisterns drought-pro...

This study examines the issues of modernisation state planning system in Republic Kazakhstan, taking into account Paris Climte Agreement and new pledge on achievement carbon neutrality. Based generalisation international experience OECD countries, authors determine main approaches, principles priorities for adapting strategic to conditions climate change global risks. According opinion, approac...

We examine the impact of temperature on mortality in Mexico using daily data over period 1998–2017 and find that 3.8 percent deaths are caused by suboptimal (26,000 every year). However, 92 weather-related induced cold (<12°C) or mildly ( 12–20°C) days only 2 outstandingly hot (>32°C). Furthermore, temperatures twice as likely to kill people bottom half income distribution. Finally, we sh...