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Climate Change and Long-Run Discount Rates : Evidence from Real Estate
Giglio, Stefano - 2015
The optimal investment to mitigate climate change crucially depends on the discount rate used to evaluate the … investment's uncertain future benefits. The appropriate discount rate is a function of the horizon over which these benefits … accrue and the riskiness of the investment. In this paper, we estimate the term structure of discount rates for an important …
Persistent link: https://www.econbiz.de/10012456904
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Free Trade and Global Warming : A Trade Theory View of the Kyoto Protocol
Copeland, Brian R. - 2000
economies, are false or need serious amendment in a world with international trade in goods. Since the three results we … a re-examination may be in order. Specifically, we demonstrate that in an open trading world, but not in a closed …
Persistent link: https://www.econbiz.de/10012471110
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Investor Rewards to Climate Responsibility : Evidence from the 2016 Climate Policy Shock
Ramelli, Stefano; Wagner, Alexander F.; Zeckhauser, Richard - 2019 - Revised July 2019
Donald Trump's election and his nomination of Scott Pruitt, a climate skeptic, to lead the Environmental Protection Agency drastically downshifted expectations on US climate-change policy. We study firms' stock-price reactions and institutional investors' portfolio adjustments after these...
Persistent link: https://www.econbiz.de/10012480961
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Setting the Initial Time-Profile of Climate Policy : The Economics of Environmental Policy Phase-Ins
Williams, Roberton C, III. - 2010
This paper considers the question of under what circumstances a new environmental regulation should "phase in" gradually over time, rather than being immediately implemented at full force. The paper focuses particularly on climate policy, though its insights are more general. It shows that while...
Persistent link: https://www.econbiz.de/10012462536
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Designing Climate Mitigation Policy
Aldy, Joseph E. - 2009
This paper provides an exhaustive review of critical issues in the design of climate mitigation policy by pulling together key findings and controversies from diverse literatures on mitigation costs, damage valuation, policy instrument choice, technological innovation, and international climate...
Persistent link: https://www.econbiz.de/10012463627
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On the Self-interested Use of Equity in International Climate Negotiations
Lange, Andreas - 2009
world-wide survey of agents involved in international climate policy, we show that the perceived support of different equity …
Persistent link: https://www.econbiz.de/10012463718
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An Elaborated Global Climate Policy Architecture : Specific Formulas and Emission Targets for All Countries in All Decades
Frankel, Jeffrey A. - 2009
This paper analyzes a detailed plan to set quantitative national limits on emissions of greenhouse gases, following along the lines of the Kyoto Protocol. It is designed to fill in the most serious gaps: the absence of targets extending as far as 2100, the absence of participation by the United...
Persistent link: https://www.econbiz.de/10012463771
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Uncertainty, Climate Change and the Global Economy
von Below, David - 2008
The paper illustrates how one may assess our comprehensive uncertainty about the various relations in the entire chain from human activity to climate change. Using a modified version of the RICE model of the global economy and climate, we perform Monte Carlo simulations, where full sets of...
Persistent link: https://www.econbiz.de/10012464221
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The Economics of Climate Change
Goulder, Lawrence H. - 2006
Global climate change poses a threat to the well-being of humans and other living things through impacts on ecosystem functioning, biodiversity, capital productivity, and human health. This paper briefly surveys recent research on the economics of climate change, including theoretical insights...
Persistent link: https://www.econbiz.de/10012466748
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Life After Kyoto : Alternative Approaches to Global Warming
Nordhaus, William - 2005
This study reviews different approaches to the political and economic control of global public goods like global warming. It compares quantity-oriented control mechanisms like the Kyoto Protocol with price-type control mechanisms such as internationally harmonized carbon taxes. The pros and cons...
Persistent link: https://www.econbiz.de/10012466782