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Climate Treaties and Approaching Catastrophes

Barrett, Scott - CESifo - 2012

If the threshold that triggers climate catastrophe is known with certainty, and the benefits of avoiding catastrophe … net benefits of avoiding catastrophe are lower, treaties typically fail to help countries cooperate to avoid catastrophe …, sustaining only modest cuts in emissions. These results are unaffected by uncertainty about the impact of catastrophe. By …

Persistent link: https://www.econbiz.de/10010877724

Negotiating to Avoid "Gradual" versus "Dangerous" Climate Change: An Experimental Test of Two Prisoners' Dilemma

Barrett, Scott; Dannenberg, Astrid - CESifo - 2014

According to the Framework Convention on Climate Change, global collective action is needed to stabilize “greenhouse gas concentrations in the atmosphere at a level that would prevent dangerous [our emphasis] anthropogenic interference with the climate system.” The Framework Convention thus...

Persistent link: https://www.econbiz.de/10010734324

Catching-up and Inflation in Europe: Balassa-Samuelson, Engel's Law and other Culprits

Egert, Balazs - CESifo - 2010

This study analyses the impact of economic catching-up on annual inflation rates in the European Union with a special focus on the new member countries of Central and Eastern Europe. Using an array of estimation methods, we show that the Balassa-Samuelson effect is not an important driver of...

Persistent link: https://www.econbiz.de/10008596582

Non-Linear Exchange Rate Dynamics in Target Zones: A Bumpy Road towards a Honeymoon - Some Evidence from the ERM, ERM2 and Selected New EU Member States

Crespo-Cuaresma, Jesús; Egert, Balázs; MacDonald, Ronald - CESifo - 2005

This study investigates exchange rate movements in the Exchange Rate Mechanism (ERM) of the European Monetary System (EMS) and in the Exchange Rate Mechanism II (ERM-II). On the basis of the variant of the target zone model proposed by Bartolini and Prati (1999) and Bessec (2003), we set up a...

Persistent link: https://www.econbiz.de/10005405889

Forecasting and Combining Competing Models of Exchange Rate Determination

Altavilla, Carlo; Grauwe, Paul De - CESifo - 2006

This paper investigates the out-of-sample forecast performance of a set of competing models of exchange rate determination. We compare standard linear models with models that characterize the relationship between exchange rate and its underlying fundamentals by nonlinear dynamics. Linear models...

Persistent link: https://www.econbiz.de/10005405901

Non-Linearities in the Relation between the Exchange Rate and its Fundamentals

Altavilla, Carlo; Grauwe, Paul De - CESifo - 2005

This paper investigates the relationship between the euro-dollar exchange rate and its underlying fundamentals. First, we develop a simple theoretical model in which chartists and fundamentalists interact. This model predicts the existence of different regimes, and thus non-linearities in the...

Persistent link: https://www.econbiz.de/10005406011

Total Costs and Budgetary Effects of Adaptation to Climate Change: An Assessment for the European Union

Osberghaus, Daniel; Reif, Christiane - CESifo - 2010

Adaptation to climate change is gaining increasing relevance in the public debate of climate policy. However, detailed and regionalised cost estimates as a basis for cost-benefit-analyses are rare. We compose available cost estimates for adaptation in Europe, and in particular Germany, Finland...

Persistent link: https://www.econbiz.de/10008511596

The Supply Side of CO2 with Country Heterogeneity

Hoel, Michael - CESifo - 2011

Several recent articles have analyzed climate policy giving explicit attention to the non-renewable character of carbon resources. In most of this literature the economy is treated as a single unit, which in the context of climate policy seems reasonable to interpret as the whole world. However,...

Persistent link: https://www.econbiz.de/10008914283

Market Effects of Voluntary Climate Action by Firms: Evidence from the Chicago Climate Exchange

Gans, Will; Hintermann, Beat - CESifo - 2011

Why do for-profit firms take voluntary steps to improve the environment? Brand appeal to green consumers or investors, the ability to influence or avoid regulation, or the experience gained for future regulation, have all been suggested as possible reasons. The empirical evidence is decidedly...

Persistent link: https://www.econbiz.de/10009021238

Dark Clouds or Silver Linings? Knightian Uncertainty and Climate Change

Chen, Yu-Fu; Funke, Michael; Glanemann, Nicole - CESifo - 2011

This paper examines the impact of Knightian uncertainty upon optimal climate policy through the prism of a continuous-time real option modelling framework. We analytically determine optimal intertemporal climate policies under ambiguity. Additionally, numerical simulations are provided to...

Persistent link: https://www.econbiz.de/10009221550