"Carbon pricing" special issue in the European economic review

Carbon is the basis of all organic matter on Earth, and is recycled through the ecosystem in two primary processes: one in which carbon is exchanged among living organisms, and one in which carbon is cycled over long periods of time through fossilized organic remains, weathering of rocks, and volcanic activity. Human activities, including increased agricultural practices and the burning of fossil fuels, has greatly affected the balance of the natural carbon cycle.

Throughout its ~4.5 billion year history, the Earth has experienced periods of warming and cooling. However, the current drastic increase in global temperatures is well outside of the Earth’s cyclic norms, and evidence for human-caused global climate change is compelling. Paleoclimatology, the study of ancient climate conditions, provides ample evidence for human-caused global climate change by comparing recent conditions with those in the past.

The equilibrium between a liquid and its vapor depends on the temperature of the system; a rise in temperature causes a corresponding rise in the vapor pressure of its liquid. The Clausius-Clapeyron equation gives the quantitative relation between a substance’s vapor pressure (P) and its temperature (T); it predicts the rate at which vapor pressure increases per unit increase in temperature.

Ribulose 1,5- bisphosphate carboxylase/oxygenase (RuBisCo) is a critical enzyme that catalyzes carbon dioxide assimilation during photosynthesis. However, it is an inefficient enzyme, having an extremely slow catalytic rate. A typical enzyme can process about a thousand molecules per second; however, RuBisCo fixes only around three-carbon dioxides per second. Photosynthetic cells compensate for this slow rate by synthesizing very high amounts of RuBisCo, making it the most abundant single...

Applying the conservation of energy principle or the work-energy theorem to an incompressible, inviscid fluid in laminar, steady, irrotational flow leads to Bernoulli's equation. It states that the sum of the fluid pressure, potential, and kinetic energy per unit volume is constant along a streamline.
All the terms in the equation have the dimension of energy per unit volume. The kinetic energy per unit volume is called the kinetic energy density, and the potential energy per unit volume is...

Microorganisms are pivotal agents in Earth's biogeochemical cycles, significantly influencing climate dynamics through their metabolic activities. These microbes modulate the levels of key greenhouse gases by both contributing to and helping mitigate climate change.Microbial Contributions to Greenhouse Gas EmissionsRising global temperatures accelerate microbial metabolism, which, in turn, speeds up the decomposition of organic matter. This process releases carbon dioxide (CO₂) through...