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If global warming is to stay below 2°C, there are four risks of assets stranding. First, substantial fossil fuel reserves will be stranded at the end of the fossil era. Second, this will be true for exploration capital too. Third, unanticipated changes in present or expected future climate...
Persistent link: https://www.econbiz.de/10012039083
the book world and the political arena. …
Persistent link: https://www.econbiz.de/10011507914
Most evidence for the resource curse comes from cross-country growth regressions suffers from a bias originating from the high and ever-evolving volatility in commodity prices. This paper addresses these issues by providing new cross-country empirical evidence for the effect of resources in...
Persistent link: https://www.econbiz.de/10003969214
We develop a dynamic computational network model of the banking system where fire sales provide the amplification mechanism of financial shocks. Each period a finite number of banks offers a large, but finite, number of loans to households. Banks with excess liquidity also offer loans to other...
Persistent link: https://www.econbiz.de/10014490902
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with the rest of the world. Lastly, the government chooses a new education policy that maximizes welfare under trade. Is it …
Persistent link: https://www.econbiz.de/10003850137
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The Green Paradox states that, in the absence of a tax on CO2 emissions, subsidizing a renewable backstop such as solar or wind energy brings forward the date at which fossil fuels become exhausted and consequently global warming is aggravated. We shed light on this issue by solving a model of...
Persistent link: https://www.econbiz.de/10003939168