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Global Warming and Extreme Events : Rethinking the Timing and Intensity of Environmental Policy

Chen, Yu-Fu - 2010

-probability extreme events on environmental policy in a continuous-time real options model with “tail risk”. In a nutshell, our results … indicate the importance of tail risk and call for foresighted pre-emptive climate policies …

Persistent link: https://www.econbiz.de/10013139799

Information, Uncertainty, and Subjective Entitlements in Bargaining

Karagözoğlu, Emin - 2010

More often than not production processes are the joint endeavor of people having different abilities and productivities. Such production processes and the associated surplus production are often not fully transparent in the sense that the relative contributions of involved agents are blurred;...

Persistent link: https://www.econbiz.de/10013139800

Merchants of Doubt : Corporate Political Influence When Expert Credibility is Uncertain

Chiroleu-Assouline, Mireille - 2016

A key role of science-based non-governmental organizations (NGOs) is to communicate scientific knowledge to policymakers. However, recent evidence has emerged showing that industry-backed groups often attempt to undermine the credibility of such NGOs and weaken their ability to influence policy....

Persistent link: https://www.econbiz.de/10012977549

Modeling Uncertainty in Climate Change : A Multi-Model Comparison

Gillingham, Kenneth - 2015

The economics of climate change involves a vast array of uncertainties, complicating both the analysis and development of climate policy. This study presents the results of the first comprehensive study of uncertainty in climate change using multiple integrated assessment models. The study looks...

Persistent link: https://www.econbiz.de/10013013082

Uncertainty and Economic Activity

Cesa-Bianchi, Ambrogio - 2014

The 2007-2008 global financial crisis and the subsequent anemic recovery have rekindled academic interest in quantifying the impact of uncertainty on macroeconomic dynamics based on the premise that uncertainty causes economic activity to slow down and contract. In this paper, we study the...

Persistent link: https://www.econbiz.de/10013054500

International Environmental Agreements with Uncertainty, Learning and Risk Aversion

Finus, Michael - 2014

role of learning and risk aversion. It bridges two strands of literature: one focused on the role learning for the success … of IEA formation when countries are risk neutral and another that explores the implications of uncertainty and risk … aversion on IEA formation under no learning. Combining learning and risk aversion seems appropriate as the uncertainties …

Persistent link: https://www.econbiz.de/10013059058

Optimal Conservatism and Collective Monetary Policymaking Under Uncertainty

Hefeker, Carsten - 2014

We study how the optimal degree of conservatism relates to decision-making procedures in a Monetary Policy Committee (MPC). In our framework, central bank conservatism is required to attenuate the volatility of monetary decisions generated by the presence of uncertainty about the committee...

Persistent link: https://www.econbiz.de/10013047346

Uncertainty and Fiscal Policy in an Asymmetric Monetary Union

Hefeker, Carsten - 2013

The paper examines the monetary-fiscal interactions in a monetary union model with uncertainty due to imperfect central bank transparency. We first show that monetary uncertainty disciplines fiscal policymakers and thereby reduces taxes, average inflation and output distortions. However, as more...

Persistent link: https://www.econbiz.de/10012753473

Export Decision Under Risk

de Sousa, José; Disdier, Anne-Célia; Gaigne, Carl - 2021

regularities by developing a new firmbased trade model wherein managers are risk averse. Higher volatility induces the reallocation …

Persistent link: https://www.econbiz.de/10013315484

Does Capital Tax Uncertainty Delay Irreversible Risky Investment?

Niemann, Rainer; Sureth-Sloane, Caren - 2021

risk neutral investors are sensitive with respect to capital tax risk and may react in a surprising manner to a newly …, high capital tax risk delays high-risk innovative investment projects. To reduce unintended consequences of uncertain tax …

Persistent link: https://www.econbiz.de/10013315489