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Endogenous Business Cycles and the Economic Response to Exogenous Shocks
Hallegatte, Stéphane; Ghil, Michael - Fondazione ENI Enrico Mattei (FEEM) - 2007
In this paper, we investigate the macroeconomic response to exogenous shocks, namely natural disasters and stochastic productivity shocks. To do so, we make use of an endogenous business cycle model in which cyclical behavior arises from the investment–profit instability; the amplitude of this...
Persistent link: https://www.econbiz.de/10004990067
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An Exploration of the Link Between Development, Economic Growth, and Natural Risk
Hallegatte, Stéphane - Fondazione ENI Enrico Mattei (FEEM) - 2013
probability of disaster occurrence to decrease with income; (ii) the capital at risk – and thus the economic losses in case of … disaster – to increase faster than economic growth; (iii) the average annual losses to grow faster than income at low levels of … observation of a trend in disaster losses should not be confused with the presence of excessive risk taking. In a descriptive …
Persistent link: https://www.econbiz.de/10010904902
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Accounting for Different Uncertainties: Implications for Climate Investments?
Hector, Svenja - Fondazione ENI Enrico Mattei (FEEM) - 2013
The paper clarifies the link between changes in risk aversion and the effect on the consumption discount rate. In a general framework that can cope with various forms of uncertainty, it is shown that the response of the consumption discount rate to a change in risk aversion depends on some...
Persistent link: https://www.econbiz.de/10010904906
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Geoengineering and Abatement: A “flat” Relationship under Uncertainty
Emmerling, Johannes; Tavoni, Massimo - Fondazione ENI Enrico Mattei (FEEM) - 2013
The potential of geoengineering as an alternative or complementary option to mitigation and adaptation has received increased interest in recent years. The scientific assessment of geoengineering is driven to a large extent by assumptions about its effectiveness, costs, and impacts, all of which...
Persistent link: https://www.econbiz.de/10010904907
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Energy Balance Climate Models, Damage Reservoirs and the Time Profile of Climate Change Policy
Brock, William; Engstrom, Gustav; Xepapadeas, Anastasios - Fondazione ENI Enrico Mattei (FEEM) - 2012
A simplified energy balance climate model is considered with the global mean temperature as the state variable, and an endogenous ice line. The movements of the ice line towards the Poles are associated with damage reservoirs where initial damages are high and then eventually vanish as the ice...
Persistent link: https://www.econbiz.de/10010904909
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Climate Change and Adaptation: The Case of Nigerian Agriculture
Bosello, Francesco; Campagnolo, Lorenza; Eboli, Fabio - Fondazione ENI Enrico Mattei (FEEM) - 2013
The present research offers an economic assessment of climate change impacts on the four major crop families characterizing Nigerian agriculture, covering more than 80% of agricultural value added. The evaluation is performed shocking land productivity in a computable general equilibrium model...
Persistent link: https://www.econbiz.de/10010904911
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Climate Policies: a Burden or a Gain?
Bréchet, Thierry; Tulkens, Henry - Fondazione ENI Enrico Mattei (FEEM) - 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/10010904921
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Leadership and International Climate Cooperation
Schwerhoff, Gregor - Fondazione ENI Enrico Mattei (FEEM) - 2013
Which kind of reaction can a nation or group of nations expect when leading by example in climate policy? This literature survey describes possible positive reaction mechanisms from different fields of economics, some of which have scarcely been linked to climate economics previously. One effect...
Persistent link: https://www.econbiz.de/10010904926
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Non-CO2 Greenhouse Gas Mitigation Modeling with Marginal Abatement Cost Curves: Technical Change, Emission Scenarios and Policy Costs
Carrara, Samuel; Marangoni, Giacomo - Fondazione ENI Enrico Mattei (FEEM) - 2013
The abatement of non-CO2 greenhouse gases (OGHG) has proved to be of paramount importance for reaching global mitigation targets. The modeling of their abatement is normally carried out referring to marginal abatement cost (MAC) curves, which by now represent a standard approach for such an...
Persistent link: https://www.econbiz.de/10010904927
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What Social Cost of Carbon? A Mapping of the Climate Debate
Fabert, Baptiste Perrissin; Dumas, Patrice; Hourcade, … - Fondazione ENI Enrico Mattei (FEEM) - 2012
Given disparate beliefs about economic growth, technical change and damage caused by climate change, this paper starts with the seeming impossibility of determining a unique time profile of the social costs of carbon as a benchmark for climate negotiations and for infrastructure decisions that...
Persistent link: https://www.econbiz.de/10010904931