Growth theory predicts that natural disasters should, on impact, lower GDP per capita. However, the empirical literature does not offer conclusive evide

Understanding the feasibility and cost of adaptation is essential to management of the global climate. Unfortunately, we lack general estimates of adaptive responses to almost all climatological processes. To address this for one phenomenon, we...

We investigate the socially optimal intervention in the global carbon cycle. Limiting factors are (a) increasing atmospheric carbon concentration due to fossil fuel-related carbon emissions, and (b) the inertia of the global carbon cycle itself....