Global effects of C.B.A.M.
How much can one person do against climate change? How much can one medium-sized nation do? Or, in the case of the European Union, a group of medium-sized nations? “Climate change is a collective action problem,” said Jonathan Colmer, Associate Professor of Economics and Public Policy at University of Virginia. “Individual countries bear the cost of carbon regulation while the benefits are shared globally. The result is that too little climate change mitigation occurs.” He was delivering a webinar titled “The Global Effects of Carbon Border Adjustment Mechanisms.” The presentation was based on a research article of the same title […]
Flooded House or Underwater Mortgage?
As the world’s attention becomes distracted by wars and unrest, climate risks, chiefly due to flood and fire, loom. How will these risks affect households? And how can households prepare in advance? When it comes to flooding, companies are distributing advice on the details of flood preparedness, and many municipalities subsidize flood mitigation programs. Economists, however, are interested in the bigger picture: What are the macroeconomic implications of climate change and adaptation on housing in general? “Physical risks directly impact house prices and lending and insurance decisions,” said Yasmine van der Straten, Assistant Professor in Finance at Nova School of Business and […]