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How Should the Distant Future Be Discounted When Discount Rates are Uncertain?

Gollier, Christian; Weitzman, Martin - 2021

It is not immediately clear how to discount distant-future events, like climate change, when the distant-future discount rate itself is uncertain. The so-called “Weitzman-Gollier puzzle” is the fact that two seemingly symmetric and equally plausible ways of dealing with uncertain future...

Persistent link: https://www.econbiz.de/10013316287

'Mitigation, Adaptation, Suffering' : In Search of the Right Mix in the Face of Climate Change

Tulkens, Henry; van Steenberghe, Vincent - 2021

The usually assumed two categories of costs involved in climate change policy analysis, namely abatement and damage costs, hide the presence of a third category, namely adaptation costs. This dodges the determination of an appropriate level for them. Including adaptation costs explicitly in the...

Persistent link: https://www.econbiz.de/10013316316

Sacrifice, Discounting and Climate Policy : Five Questions

Karp, Larry S. - 2021

I offer a selective review of discounting and climate policy. Analytic and numerical models show that different assumptions greatly change the degree to which decisions about climate policy depend on the discount rate. I discuss a claim that standard models exaggerate the current generation’s...

Persistent link: https://www.econbiz.de/10013316325

Bringing the Copenhagen Global Climate Change Negotiations to Conclusion

Whalley, John; Walsh, Sean - 2021

In this paper we discuss the global negotiations now underway and aimed at achieving new climate change mitigation and other arrangements after 2012 (the end of the Kyoto commitment period). These were initiated in Bali in December 2007 and are scheduled to conclude by the end of 2009 in...

Persistent link: https://www.econbiz.de/10013316450

International Energy Technology Transfers for Climate Change Mitigation - What, Who, How, Why, When, Where, How Much ... And the Implications for International Institutional Archit...

Brewer, Thomas L. - 2021

The goal of the paper is to expand and refine the international technology transfer negotiating and analytic agendas and to reframe the issues. The paper presents concepts, indicators, illustrations and data that identify and measure international transfers of energy technologies that can be...

Persistent link: https://www.econbiz.de/10013316475

How to Measure Financial Market Efficiency? A Multifractality-Based Quantitative Approach with an Application to the European Carbon Market

Sattarhoff, Cristina - 2018

This paper proposes a new measure for the evaluation of financial market efficiency, the so-called intermittency coefficient. This is a multifractality measure that can quantify the deviation from a random walk within the framework of the multifractal random walk model by Bacry et al. (2001b)....

Persistent link: https://www.econbiz.de/10012913274

Carbon Pricing in the EU : Evaluation of Different EU ETS Reform Options

Brink, Corjan - 2015

This paper studies various options to support allowance prices in the EU Emissions Trading System (ETS), such as … adjusting the cap, an auction reserve price, and fixed and variable carbon taxes in addition to EU ETS. We use a dynamic … at the EU Member State level. We find that both a variable carbon tax and an auction reserve price support effective …

Persistent link: https://www.econbiz.de/10013009840

Pass-through of CO<sub>2</sub> Emission Costs to Hourly Electricity Prices in Germany

Hintermann, Beat - 2014

I estimate the level of emissions cost pass-through to hourly wholesale electricity prices in Germany, based on spot market data. I control for contemporaneous shocks to demand and supply by constructing a detailed supply curve for fossil generation, and intersecting it with residual demand for...

Persistent link: https://www.econbiz.de/10013046575

Carbon Leakage : A Medium- and Long-Term View

Habermacher, Florian - 2015

Future market developments determine the fate of fossil fuel carbon currently conserved unilaterally. Dynamic fuel depletion naturally suggests leakage rates approaching 100%. Reasons for lower leakage differ from what limits rates in previous studies. Discounting reduces present-value leakage...

Persistent link: https://www.econbiz.de/10013026683

More Gas, Less Cole, and Less CO2? Unilateral CO2 Reduction Policy with More than One Carbon Energy Source

Daubanes, Julien - 2017

We examine an open economy's strategy to reduce its carbon emissions by replacing its consumption of coal - very carbon intensive - with gas - less so. Unlike the standard analysis of carbon leakage, unilateral carbon-reduction policies with more than one carbon energy source may turn...

Persistent link: https://www.econbiz.de/10012943061