Combatting Climate Change: a CEPR Collection

Beatrice Weder di Mauro 08 November 2021

Published during the 2021 COP26 summit in Glasgow, this eBook provides a selection of solution-oriented research studies first featured on CEPR’s policy platform VoxEU.org, which highlight key policy issues for governments going forward, as well as detailed analyses of the effectiveness of policies currently in place. The eBook also provides a fascinating insight into the evolution of economic research on climate change over the last decade, and most starkly highlights the shift in urgency and appreciation of this daunting threat to humanity.

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Contents

Part I  A Start

Evolution of the economics of climate change
Beatrice Weder di Mauro

Why are economists letting down the world on climate change?
Andrew Oswald, Nicholas Stern

Part II Advocates and early voices

Climate Change, ethics and the economics of the global deal
Nicholas Stern

Climate economics
Geoffrey Heal

Climate change negotiations: Time to reconsider
Jean Tirole

Climate change and developing country growth
Michael Spence

How to set greenhouse gas emission targets for all countries
Jeffrey Frankel

Kick-starting the green innovation machine
Reinhilde Veugelers, Philippe Aghion, David Hemous

Part III Carbon pricing and carbon taxation

Distributional impacts of carbon pricing: A general equilibrium approach with micro data for households 
Sebastian Rausch, Gilbert Metcalf, John Reilly

Global carbon taxation: Intuition from a back-of-the-envelopecalculation
Armon Rezai, Rick van der Ploeg

Discounting climate change investments
Stefano Giglio, Matteo Maggiori, Johannes Stroebel, Andreas Weber

Transition to clean technology
Daron Acemoğlu, Ufuk Akcigit, Douglas Hanley, William Kerr

How to deal with climate change deniers: Price carbon!
Rick van der Ploeg, Armon Reza

Pricing of carbon within and at the border of Europe
Christoph Schmidt, Marcel Fratzscher, Nicola Fuchs-Schundeln, Clemens Fuest, Christian Gollier, Philippe Martin, Isabelle Méjean, Xavier Ragot, Katheline Schubert, and Beatrice Weder di Mauro

Pollution permits and financing costs
Fabio Antoniou, Manthos Delis, Steven Ongena, Christos Tsoumas

Efficient carbon pricing under uncertainty
Christian Gollier

A time-varying carbon tax to protect the environment while safeguarding the economy
Ghassane Benmir, Ivan Jaccard and Gauthier Vermandel

Carbon pricing and relocation: Evidence from Dutch industry
Sander Hoogendoorn, Arjan Trinks, Johannes Bollen

The social cost of carbon and inequality
David Klenert, Marc Fleurbaey

Tackling climate change requires global policies
Söhnke M. Bartram, Kewei Hou, and Sehoon Kim

Part IV Green finance: Is it working?

The carbon bubble and the pricing of bank loans
Manthos Delis, Kathrin de Greiff, Steven Ongena

Green bonds and carbon emissions: Exploring the case for a rating system at the firm level
Torsten Ehlers, Benoit Mojon, Frank Packer, Luiz A. Pereira da Silva

Limits to private climate change mitigation
Dalya Elmalt, Deniz Igan, Divya Kirti

Financing climate change: International agreements and lending
Yener Altunbas, David Marques-Ibanez, Alessio Reghezza, Costanza Rodriguez d’Acri, Martina Spaggiari

Integrating climate change into the financial stability framework
Timo Löyttyniemi

Climate change will unevenly impact the European financial system
Paul Hiebert

Global pricing of carbon-transition risk
Patrick Bolton, Marcin Kacperczyk

Barriers to net-zero: How firms can make or break the green transition
Ralph De Haas, Ralf Martin, Mirabelle Muûls, Helena Schweiger

Mandatory corporate carbon disclosures and the path to net zero
Patrick Bolton, Stefan Reichelstein, Marcin Kacperczyk,Christian Leuz, Gaizka Ormazabal, Dirk Schoenmaker

Part V Green money: Climate change and central banks

Greening monetary policy
Dirk Schoenmaker

Central banks and climate change
Markus K Brunnermeier, Jean-Pierre Landau

Carbon taxation and inflation: Evidence from Europe and Canada
Maximilian Konradt, Beatrice Weder di Mauro

Climate change and central banks: Introducing the expectations channel
Alexander Dietrich, Gernot Müller, Raphael Schoenle

The ECB’s green agenda
Ethan Ilzetzki, Jason Jia

Climate change and central banks: The case for violating neutrality
Luke Bartholomew, Paul Diggle

Part VI Green political economy and global distributional issues

Why cap-and-trade should (and does) have appeal to politicians
Robert Stavins, Robert Hahn

Migration’s response to increasing temperatures
Cristina Cattaneo, Giovanni Peri

Carbon and inequality: From Kyoto to Paris
Lucas Chancel, Thomas Piketty

Making carbon pricing work for citizens
David Klenert, Cameron Hepburn

Climate migration frightens... climate poverty is frightening!
Michał Burzynski, Christoph Deuster, Frédéric Docquier, Jaime de Melo

Unequal gains: Assessing the aggregate and spatial economic impact of global warming
José-Luis Cruz, Esteban Rossi-Hansberg

The joint effect of private and public environmental regulation on emissions
Mattia Di Ubaldo, Steven McGuire, Vikrant Shirodkar

Trade to adapt: Changing specialisation to cope with climate change
Bruno Conte, Klaus Desmet, Dávid Krisztián Nagy, Esteban Rossi-Hansberg

Air pollution policy should focus on the most vulnerable people, not just the most polluted places
Tatyana Deryugina, Nolan Miller, David Molitor, Julian Reif

Design of climate change policies needs to internalise political realities
Davide Furceri, Michael Ganslmeier, Jonathan D. Ostry

Debt, natural disasters, and special drawing rights: A modest proposal
Avinash Persaud

Beatrice Weder di Mauro

Professor of International Economics, Graduate Institute of Geneva; Distinguished Fellow, INSEAD Emerging Markets Institute, Singapore; President, CEPR

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