Showing 1 - 10 of 164
This research estimates the impact of climate on European agriculture using a continental scale Ricardian analysis …. Climate, soil, geography and regional socio-economic variables are matched with farm level data from 37,612 farms across … depending on the climate scenario. Farms in Southern Europe are predicted to be particularly sensitive, suffering losses of -9 …
Persistent link: https://www.econbiz.de/10010877673
Multiplicative growth processes that are subject to random shocks often have a skewed distribution of outcomes. In a number of incentivized laboratory experiments we show that a large majority of participants either strongly underestimate skewness or ignore it completely. Participants...
Persistent link: https://www.econbiz.de/10010764292
is Cobb-Douglas, depreciation is 100% every period, climate damages as fraction of production decline exponentially with … optimal carbon tax corresponding to this simple rule are not robust to more convex climate damages, smaller elasticities of …
Persistent link: https://www.econbiz.de/10011264742
The paper develops an axiomatic framework for rational decision making. The von Neumann-Morgenstern axioms give rise to a richer risk attitude than that captured in the standard discounted expected utility model. I derive three models that permit a more comprehensive risk evaluation. These...
Persistent link: https://www.econbiz.de/10010544183
Farmland values have traditionally been valued using seasonal temperature and precipitation. A new strand of the … literature uses degree days over the growing season to predict farmland value. We find that degree days and daily temperature are …
Persistent link: https://www.econbiz.de/10011105369
-perpetual real options framework analysing optimal climate policy under uncertainty. The window-of-opportunity modelling setup shows … implementation of a climate policy is evaded by high uncertainty about possible climate pathways. …
Persistent link: https://www.econbiz.de/10009371345
-Economic Panel that we combine with geographic flood data, we compare the savings behavior of affected and non-affected individuals …
Persistent link: https://www.econbiz.de/10011277182
Using the extended Ramsey rule, the socially efficient rate is the difference between a wealth effect and a precautionary effect of economic growth. This second effect is increasing in the degree of uncertainty affecting the future. In the literature, it is usually calibrated by estimating the...
Persistent link: https://www.econbiz.de/10009224874
It is not immediately clear how to discount distant-future events, like climate change, when the distant …
Persistent link: https://www.econbiz.de/10008534029
Whole life insurance plays an important role in household saving. However, empirical evidence on its determinants is …
Persistent link: https://www.econbiz.de/10008534059