Showing 1 - 10 of 44
This review article tries to answer four questions: (i) what are the stylized facts about uncertainty over time; (ii …) why does uncertainty vary; (iii) do fluctuations in uncertainty matter; and (iv) did higher uncertainty worsen the Great … Recession of 2007-2009? On the first question both macro and micro uncertainty appears to rise sharply in recessions. On the …
Persistent link: https://www.econbiz.de/10011126328
To what extent does economic analysis of climate change depend on low-probability, high-impact events? This question has received a great deal of attention lately, with the contention increasingly made that climate damage could be so large that societal willingness to pay to avoid extreme...
Persistent link: https://www.econbiz.de/10010746080
ideological divide, the US seems destined to heightened levels of policy uncertainty for many years to come. Some research … suggests that such uncertainty, particularly over economic policy, partly explains the sluggish nature of the recovery in … America – and - according to one recent study, restoring policy uncertainty to levels that prevailed before the financial …
Persistent link: https://www.econbiz.de/10011125919
of factors highlighted in the theory are shown to be important in accounting for delegation, such as heterogeneity and …
Persistent link: https://www.econbiz.de/10011126085
, emission reductions accounting contains substantial uncertainty as a result of forest carbon stock estimates, where the … 63% in moist forest and 58% in dry forest. Combining forest carbon stock estimates and uncertainty in voluntary carbon … market prices demonstrates the financial impact of uncertainty: potential revenues over the 20-year project ranged between US …
Persistent link: https://www.econbiz.de/10011126253
This paper analyses the design of carbon markets in space (i.e., geographically). It is part of a twin set of papers that, starting from first principles, ask what an optimal global carbon market would look like by around 2030. Our focus is on firm-level cap-and-trade systems, although much of...
Persistent link: https://www.econbiz.de/10011126264
Weather index insurance is being offered to low-income farmers in developing countries as an alternative to traditional multi-peril crop insurance. There is widespread support for index insurance as a means of climate change adaptation but whether or not these products are themselves resilient...
Persistent link: https://www.econbiz.de/10011126381
This paper analyses the design of carbon markets in time (i.e., intertemporally). It is part of a twin set of papers that ask, starting from first principles, what an optimal global carbon market would look like by around 2030. Our focus is on firm-level cap-and-trade systems, although much of...
Persistent link: https://www.econbiz.de/10011126649
This paper explores the sources of uncertainty that cause firms to revise their capital investment plans and the stock … market to revise its valuation of those firms. A simple method is developed to decompose the uncertainty governing revisions … idiosyncratic uncertainty, but common disturbances are more important for movements in the stock market rate of return. …
Persistent link: https://www.econbiz.de/10010884677
This paper investigates the relationship between infation uncertainty and investment using a panel of loan-level data … aggregates. The data show that periods of increased inflation uncertainty are associated with substantial reductions in total … models of investment under uncertainty. …
Persistent link: https://www.econbiz.de/10010884740