The Royal Economic Society is pleased to announce the publication of the inaugural special issue of The Economic Journal on Climate Change and Inequality (Volume 136, Issue 677, July 2026). Edited by Special Issues Editor Alberto Bisin (New York University), the eleven papers span new economic models that help researchers understand how climate change and climate policies affect different people, regions and countries.
While the relevance of climate change as an economic issue is clear, novel methods to evaluate its economic costs are continuing to emerge. Structural models that can be calibrated and tested against data, while remaining consistent with the fundamentals of climate science, are enabling researchers to account for differences across regions, over time, and between heterogeneous agents. This special issue showcases frontier economics applying these methods to generate fundamental quantitative insights.
The papers are organised around four themes:
- How climate policies affect different geographic locations in different ways;
- how European carbon pricing varies at both regional and household levels;
- how optimal climate policies account for heterogeneity; and
- the link between agricultural technologies and climate change.
Editor-in-Chief Francesco Lippi described the publication of the inaugural Special Issue as an important milestone for both The Economic Journal and the wider discipline. He said:
“The Economic Journal’s first Special Issue on Climate Change and Inequality marks an important milestone, both for the journal and for the field. What stands out to me about this edition is the exceptional quality and coherence of the research: eleven papers that together advance the frontier of structural economic modelling while addressing one of the most pressing questions of our time.”
“The issue makes clear that the economic consequences of climate change and climate policy are deeply heterogeneous across regions, households and generations, and that understanding this heterogeneity is essential for designing policy. I am proud that The Economic Journal is at the forefront of this research agenda, and grateful to Special Issues Editor Alberto Bisin for assembling a collection of such depth and ambition.”
Special Issues Editor Alberto Bisin said the collection showcases new approaches to understanding the economic impacts of climate change and climate policy. He said:
“While the relevance of climate change as an economic issue is clear, economists are continuing to develop novel methods to evaluate its economic costs and the impacts of climate policies across regions, over time, and between different groups. This Special Issue showcases frontier research applying these methods to generate fundamental quantitative insights. I hope readers will be inspired by the methods and results presented here to produce more high-quality research on this fundamental topic.”
The Editor’s Introduction and the Editor’s Choice article, On the Geographic Implications of Carbon Taxes, by Bruno Conte, Klaus Desmet and Esteban Rossi-Hansberg, are available to read Free to View for a limited time.
Bruno Conte, Klaus Desmet and Esteban Rossi-Hansberg said their Editor’s Choice paper demonstrates how well-designed carbon taxes can reduce emissions while supporting local economies. They said:
“The paper argues that carbon taxes can yield a double-dividend. They reduce carbon emissions and, if not too big and if the revenue is rebated locally, can increase local output and reduce the welfare cost associated with addressing the climate change challenge. We are excited that it was selected as the Editor’s Choice article, since we hope it will help to disseminate its practical policy message.”
Royal Economic Society members benefit from free access to all articles published in the Journal.
Papers published in themed special issues of The Economic Journal are focused on questions of high relevance to society and academia, with content generated through open calls. To date, five calls for papers have been issued for forthcoming special issues:
- Polarization in Field Experiments
- Money and Liquidity
- Labor Market Effects of Immigration with Micro Data
- AI Measurement in Applied Economics
The Economic Journal is one of the founding journals of modern economics and publishes eight issues per year. Since 1891, the journal has earned a worldwide reputation for excellence as a general-interest journal.