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Dynamic uncertainty and global warming risk

Bosello, Francesco; Moretto, Michele - 1999

When economic agents decide their optimal environmental behavior, they have to take into account non continuos evolutionary trends and irreversible changes characterising environmental phenomena. Given the still non perfect biophysical and economic knowledge, decisions have to be taken in an...

Persistent link: https://www.econbiz.de/10011608543

The double dividend issue: Modeling strategies and empirical findings

Bosello, Francesco; Carraro, Carlo; Galeotti, Marzio - 1998

This paper reviews recent developments in the study of the so-called "double dividend", i.e. the possibility of improving the environment and, at the same time, reducing the distortions of the tax system through revenue-neutral green taxes. Recent modeling advances are considered at both the...

Persistent link: https://www.econbiz.de/10011608449

Advances of climate modelling for policy analysis

Bosello, Francesco; Carraro, Carlo; Kemfert, Claudia - 1998

This paper surveys recent advances in climate models by emphasising how quantitative instruments can answer the main crucial questions addressed by the policymakers involved and therefore aid the formulation of effective global climate policies. The limits of existing models are highlighted and...

Persistent link: https://www.econbiz.de/10011608450

Carbon emissions trading and equity in international agreements

Bosello, Francesco; Roson, Roberto - 1999

An integrated assessment model is used to simulate the introduction of various emissions trading schemes based on the Kyoto protocol on the reduction of greenhouse emissions. The implications of the various systems in terms of income distribution are illustrated, and it is claimed that the issue...

Persistent link: https://www.econbiz.de/10011608521

Recycling energy taxes: Impacts on a disaggregated labour market

Bosello, Francesco; Carraro, Carlo - 1999

This paper analyses the costs and benefits of a fiscal reform designed to simultaneously increase environmental quality and employment. The investigation is carried out using an econometric general equilibrium model in which the labour market is unionised and segmented, i.e. in which demand,...

Persistent link: https://www.econbiz.de/10011608542

Correlation Analysis of Financial Contagion: What One Should Know Before Running a Test

Corsetti, Giancarlo; Pericoli, Marcello; Sbracia, Massimo - 2001

This paper builds a general test of contagion in financial markets based on bivariate correlation analysis - a test that can be interpreted as an extension of the normal correlation theorem. Contagion is defined as a structural break in the data generating process of rates of return. Using a...

Persistent link: https://www.econbiz.de/10010369183

Nominal Debt and the Dynamics of Currency Crises

Corsetti, Giancarlo; Mackowiak, Bartosz - 2000

We study the interaction of fiscal and monetary policies during a currency crisis in an economy with government nominal liabilities. We show that the stock and maturity of these liabilities are key determinants of the magnitude, timing and predictability of a devaluation. Among notable features...

Persistent link: https://www.econbiz.de/10010369201

Optimal disclosure policy and undue diligence

Andolfatto, David; Berentsen, Aleksander; Waller, … - 2011

While both public and private financial agencies supply asset markets with large quantities of information, they do not … necessarily disclose all asset-related information to the general public. This observation leads us to ask what principles might … properties of a dynamic economy endowed with a risky asset, and with individuals that lack commitment. Information relating to …

Persistent link: https://www.econbiz.de/10010316837

Productivity spillovers, terms of trade, and the home market effect

Corsetti, Giancarlo; Martin, Philippe; Pesenti, Paolo - 2005

This paper analyzes the welfare implications of international spillovers related to productivity gains, changes in market size, or government spending. We introduce trade costs and endogenous varieties in a two-country general-equilibrium model with monopolistic competition, drawing a...

Persistent link: https://www.econbiz.de/10010283303

International dimensions of optimal monetary policy

Corsetti, Giancarlo; Pesenti, Paolo - 2001

This paper provides a baseline general-equilibrium model of optimal monetary policy among interdependent economies with monopolistic firms that set prices one period in advance. Strict adherence to inward-looking policy objectives such as the stabilization of domestic output cannot be optimal...

Persistent link: https://www.econbiz.de/10010283479