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Intergenerational inequality aversion, growth and the role of damages: Occam’s rule for the global carbon tax
Rezai, Armon; van der Ploeg, Frederick - C.E.P.R. Discussion Papers - 2014
We use the Euler equation to put forward a back-on-the-envelope rule for the global carbon tax based on a two-box carbon cycle with temperature lag, and a constant elasticity of marginal damages with respect to GDP. This tax falls with time impatience and intergenerational inequality aversion...
Persistent link: https://www.econbiz.de/10011096102
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Abandoning Fossil Fuel: How Fast And How Much?
Rezai, Armon; van der Ploeg, Frederick - C.E.P.R. Discussion Papers - 2014
Climate change must deal with two market failures, global warming and learning by doing in renewable use. The social optimum requires an aggressive renewables subsidy in the near term and a gradually rising carbon tax which falls in long run. As a result, more renewables are used relative to...
Persistent link: https://www.econbiz.de/10011084685
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What is the Top Priority on Climate Change?
Klemperer, Paul - C.E.P.R. Discussion Papers - 2009
What should be the West's top priority for climate-change policy? This article is a revised and updated version of my talk to the Potsdam Global Sustainability Symposium (which drafted the Potsdam Declaration presented to the 2007 UN Climate Change Conference in Bali).
Persistent link: https://www.econbiz.de/10005123837
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Adaptation Can Help Mitigation: An Integrated Approach to Post-2012 Climate Policy
Bosello, Francesco; Carraro, Carlo; De Cian, Enrica - C.E.P.R. Discussion Papers - 2012
The latest round of international negotiations in Copenhagen led to a set of commitments on emission reduction which are unlikely to stabilise global warming below or around 2°C. As a consequence, in the absence of additional ambitious policy measures, adaptation will be needed to address...
Persistent link: https://www.econbiz.de/10011083452
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Reconciling Trade and Climate Policies
de Melo, Jaime; Mathys, Nicole Andréa - C.E.P.R. Discussion Papers - 2012
The outcome of the 15th conference of the Parties to the UNFCC showed a shift from a top-down approach with a collective target favoring environmental objectives to a bottom-up accord favoring political feasibility. There is no meaningful binding agreement in sight, also because the global...
Persistent link: https://www.econbiz.de/10011084722
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Short-Selling Bans around the World: Evidence from the 2007-09 Crisis
Beber, Alessandro; Pagano, Marco - C.E.P.R. Discussion Papers - 2009
Most stock exchange regulators around the world reacted to the 2007-2009 crisis by imposing bans or regulatory …
Persistent link: https://www.econbiz.de/10008474510
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The Impact of News and the SMP on Realized (Co)Variances in the Eurozone Sovereign Debt Market
Beetsma, Roel; de Jong, Frank; Giuliodori, Massimo; … - C.E.P.R. Discussion Papers - 2014
-to-quality effect. Common news about the euro crisis and news about specific countries itself tend to raise the covariance of yields … between distressed countries, indicating potential crisis spill-over effects. However, we do not detect spillover effects from … Markets Programme (SMP) mitigate the negative crisis spillovers among the distressed countries and reduce the flight …
Persistent link: https://www.econbiz.de/10011084398
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The Euro Area Crisis: Politics over Economics
Orphanides, Athanasios - C.E.P.R. Discussion Papers - 2014
This paper explores the dominant role of politics in decisions made by euro area governments during the crisis …. Decisions that appear to have been driven by local political considerations to the detriment of the euro area as a whole are … discussed. The domination of politics over economics has led to crisis mismanagement. The underlying cause of tension is …
Persistent link: https://www.econbiz.de/10011084126
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Weather shocks and English wheat yields, 1690-1871
Brunt, Liam - C.E.P.R. Discussion Papers - 2015
We estimate a time series model of weather shocks on English wheat yields for the early nineteenth century and use it to predict weather effects on yield levels from 1697 to 1871. This reveals that yields in the 1690s were depressed by unusually poor weather; and those in the late 1850s were...
Persistent link: https://www.econbiz.de/10011249371
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The Potato's Contribution to Population and Urbanization: Evidence from an Historical Experiment
Nunn, Nathan; Qian, Nancy - C.E.P.R. Discussion Papers - 2009
We exploit regional variation in suitability for cultivating potatoes, together with time variation arising from their introduction to the Old World from the Americas, to estimate the impact of potatoes on Old World population and urbanization. Our results show that the introduction of the...
Persistent link: https://www.econbiz.de/10005039579