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Illiquidity and All its Friends
Tirole, Jean - 2010
The recent crisis was characterized by massive illiquidity. This paper reviews what we know and don't know about illiquidity and all its friends: market freezes, fire sales, contagion, and ultimately insolvencies and bailouts. It first explains why liquidity cannot easily be apprehended through...
Persistent link: https://www.econbiz.de/10014193181
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Climate alpha and the global capital market
Golub, Alexander; Anda, Jon; Markandya, Anil; Brody, Michael - 2022
The way in which climate policy and climate risks are currently accounted for in financial and real investment decisions is inadequate. The paper demonstrates weaknesses in methods presently used and proposes an alternative that aims to bridge the duration gap between climate policy modeling and...
Persistent link: https://www.econbiz.de/10013403810
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International Environmental Agreements in the Presence of Adaptation
Marrouch, Walid - 2011
We show that adaptive measures undertaken by countries in the face of climate change, apart from directly reducing the damage caused by climate change, may also indirectly mitigate greenhouse gas emissions by increasing the stable size of international agreements on emission reductions....
Persistent link: https://www.econbiz.de/10013126004
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Climate Policies : A Burden or a Gain?
Bréchet, Thierry - 2013
That climate policies are costly is evident and therefore often creates major fears. But the alternative (no action) also has a cost. Mitigation costs and damages incurred depend on what the climate policies are; moreover, they are substitutes. This brings climate policies naturally in the realm...
Persistent link: https://www.econbiz.de/10013084012
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Quantifying Sustainability : A New Approach and World Ranking
Carraro, Carlo - 2013
evolution of all indicators over time throughout the world, and (ii) the aggregation methodology to reconcile them in one … current sustainability at world level differs from what the traditional measure of well-being, the GDP, depicts, highlighting … the trade-offs among different components of sustainability. Moreover, in the next decade a slight decrease in world …
Persistent link: https://www.econbiz.de/10013088553
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On the Economic Determinants of Oil Production - Theoretical Analysis and Empirical Evidence for Small Exporting Countries
Cologni, Alessandro - 2013
and empirical investigation. Under the assumptions of exogenous oil prices and world oil demand, we are able to describe … the relationship between oil production levels and changes in the conditions in world oil markets. Intertemporal … model, oil producers are subject to exogenous shocks in world oil demand and prices. Oil companies can change output levels …
Persistent link: https://www.econbiz.de/10013092650
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Energy Abundance, Trade and Industry Location
Gerlagh, Reyer - 2014
We study the effect of countries' energy abundance on trade and sector activity, conditional on sector's energy intensity, using an unbalanced panel with 14 high-income countries from Europe, America and Asia, 10 broad sectors, and years 1970-1997. We find that (i) countries with large energy...
Persistent link: https://www.econbiz.de/10013068628
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Carbon Abatement Leaders and Laggards Non Parametric Analyses of Policy Oriented Kuznets Curves
Mazzanti, Massimiliano - 2014
We study the eventual structural differences of climate change leading ‘actors' such as Northern EU countries, and ‘lagging actors' - southern EU countries and the ‘Umbrella group' - with regard to long run (1960-2001) carbon-income relationships. Parametric and semi parametric panel...
Persistent link: https://www.econbiz.de/10013068812
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Equity Weighting and the Marginal Damage Costs of Climate Change
Anthoff, David - 2007
Climate change would impact different countries differently, and different countries have different levels of development. Equity-weighted estimates of the (marginal) impact of greenhouse gas emissions reflect these differences. Equity-weighted estimates of the marginal damage cost of carbon...
Persistent link: https://www.econbiz.de/10012730191
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Transitional Dynamics Towards Sustainability : Reconsidering the Ekc Hypothesis
Bella, Giovanni - 2007
The Environmental Kuznets Curve (EKC) hypothesis is one of the most debated economic issues. Although its fashinating appeal for any policy maker, neither theoretical nor certain empirical evidence has been found to clean up all doubt. The aim of this paper is to present an economy where...
Persistent link: https://www.econbiz.de/10012731843