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Stranded assets : how policy uncertainty affects capital, growth, and the environment
Bretschger, Lucas; Soretz, Susanne - 2018
Standard environmental economics prescribes policies which are optimal and implemented immediately. The paper argues that, in reality, environmental policy often deviates from the optimum and implementation is not deterministic but subject to major uncertainty and frequent change. We present a...
Persistent link: https://www.econbiz.de/10011818392
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Escaping Damocles' Sword : Endogenous Climate Shocks in a Growing Economy
Bretschger, Lucas - 2018
technology and damages, coupled with a relative risk aversion which exceeds unity, the abatement propensity increases to 2 …
Persistent link: https://www.econbiz.de/10012917806
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The Environmental Kuznets Curve : Tipping Points, Uncertainty and Weak Identification
Bernard, Jean-Thomas; Gavin, Michael; Khalaf, Lynda; … - 2011
We consider an empirical estimation of the Environmental Kuznets Curve (EKC) for carbon dioxide and sulphur, with a focus on confidence set estimation of the tipping point. Various econometric – parametric and nonparametric – methods are considered, reflecting the implications of...
Persistent link: https://www.econbiz.de/10014041945
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Escaping Damocles' sword : endogenous climate shocks in a growing economy
Bretschger, Lucas; Vinogradova, Alexandra - 2018
technology and damages, coupled with a relative risk aversion which exceeds unity, the abatement propensity increases to 2 …
Persistent link: https://www.econbiz.de/10011857735
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Use less, pay more : can climate policy address the unfortunate event for being poor?
Bretschger, Lucas; Suphaphiphat, Nujin - 2012
The paper develops a two-region endogenous growth model with climate change affecting the countries' capital stocks negatively. We compare two different policies aimed at supporting less developed countries: climate mitigation by rich countries, which diminishes the increase in stock pollution...
Persistent link: https://www.econbiz.de/10009625111
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Growth and Mitigation Policies With Uncertain Climate Damage
Bretschger, Lucas - 2014
Climate physics predicts that the intensity of natural disasters will increase in the future due to climate change. One of the biggest challenges for economic modeling is the inherent uncertainty of climate events, which crucially affects consumption, investment, and abatement decisions. We...
Persistent link: https://www.econbiz.de/10013048705
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Growth and Mitigation Policies with Uncertain Climate Damage
Bretschger, Lucas - 2014
Climate physics predicts that the intensity of natural disasters will increase in the future due to climate change. We present a stochastic model of a growing economy where natural disasters are multiple and random, with damages driven by the economy's polluting activity. We provide a...
Persistent link: https://www.econbiz.de/10013040491
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Use Less, Pay More: Can Climate Policy Address the Unfortunate Event for Being Poor?
Bretschger, Lucas; Suphaphiphat, Nujin - 2012
The paper develops a two-region endogenous growth model with climate change affecting the countries' capital stocks negatively. We compare two different policies aimed at supporting less developed countries: climate mitigation by rich countries, which diminishes the increase in stock pollution...
Persistent link: https://www.econbiz.de/10011753230
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Economic Growth and Risk Taking : Is it Rational to Suffer from Increasing Disaster Losses?
Hallegatte, S. - 2013
from natural hazards. Increasing investments in disaster risk reduction have led to a significant reduction in human … and poor countries. The analysis suggests indeed that economic growth leads to better defenses but also more risk taking …
Persistent link: https://www.econbiz.de/10013076598
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Do Credit Rating Agencies Care about Climate Risk?
Tran, Nhu; Uzmanoglu, Cihan - 2021
We investigate whether credit rating agencies incorporate climate risk in their rating models. As climate risk is not … vary with climate risk–related disruptions to their local economies. We study the relation between cities’ credit ratings … noncoastal cities, and run difference-in-difference tests around events that raise awareness about climate risk. We also use …
Persistent link: https://www.econbiz.de/10013252404