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The green paradox : a supply-side view of the climate problem
Sinn, Hans-Werner - 2015
Why have policies aimed at reducing the demand for carbon not succeeded in slowing down global carbon extraction and CO2 emissions, and why have carbon prices failed to increase over the last three decades? This comment argues that this is because of the Green Paradox, i.e. - (the anticipation...
Persistent link: https://www.econbiz.de/10010528868
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Total, asymmetric and frequency connectedness between oil and forex markets
Baruník, Jozef; Kočenda, Evžen - 2019
We analyze total, asymmetric and frequency connectedness between oil and forex markets using high-frequency, intra-day data over the period 2007 - 2017. By employing variance decompositions and their spectral representation in combination with realized semivariances to account for asymmetric and...
Persistent link: https://www.econbiz.de/10012035050
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Environmental and technology policy options in the electricity sector : interactions and outcomes
Fischer, Carolyn; Newell, Richard G.; Preonas, Louis - 2014
Myriad policy measures aim to reduce greenhouse gas emissions from the electricity sector, promote generation from renewable sources, and encourage energy conservation. To what extent do innovation and energy efficiency (EE) market failures justify additional interventions when a carbon price is...
Persistent link: https://www.econbiz.de/10010344788
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Explosive oil prices
Gronwald, Marc - 2013
This paper deals with three aspects of spectacular oil price episodes such as the one witnessed in 2008. First, the concept of temporary explosiveness is proposed as an empirical method for capturing this type of behavior. The application of a recently proposed recursive unit root test shows...
Persistent link: https://www.econbiz.de/10009786017
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Pricing climate risk
Jensen, Svenn; Traeger, Christian - 2021
derive a general analytic formula for the "risk premium" governing the resulting climate policy. The formula generalizes … making under uncertainty. It clarifies the distinct roles of risk aversion, prudence, characteristics of the damage … formulation, and future policy response. We show that an optimal response to uncertainty substantially reduces the risk premium. …
Persistent link: https://www.econbiz.de/10012597858
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The green paradox in open economies
Long, Ngo Van - 2014
This paper explains how, in the context of incomplete coordination among all countries, unilateral policies that might at first sight seem pro-green could actually turn out to harm the global environment. The free-riding motives and the difficulty of reaching an effective international...
Persistent link: https://www.econbiz.de/10010245993
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Climate change mitigation : how effective is green quantitative easing?
Abiry, Raphael; Ferdinandusse, Marien; Ludwig, Alexander; … - 2022
We develop a two sector incomplete markets integrated assessment model to analyse the effectiveness of green quantitative easing (QE) in complementing fiscal policies for climate change mitigation. We model green QE through an outstanding stock of private assets held by a monetary authority and...
Persistent link: https://www.econbiz.de/10013285512
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Climate damages in convergence-consistent growth projections
Harding, Tony; Moreno Cruz, Juan; Quaas, Martin F.; … - 2023
Projections of climate change damages based on climate-econometric estimates suggest that, without mitigation, global warming could reduce average global incomes by over 20% towards the end of the century (Burke et al., 2015). This figure significantly surpasses climate damages in Integrated...
Persistent link: https://www.econbiz.de/10014292777
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Asset diversification versus climate action
Hambel, Christoph; Kraft, Holger; Ploeg, Frederick van der - 2020
price, the equilibrium risk-free rate, and risk premia. Climate disasters, which are more likely to occur sooner as … temperature rises, significantly increase risk premia. …
Persistent link: https://www.econbiz.de/10012258563
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Climate policies under climate model uncertainty : max-min and min-max regret
Rezai, Armon; Ploeg, Frederick van der - 2017 - Revised May 2017
Temperature responses and optimal climate policies depend crucially on the choice of a particular climate model. To illustrate, the temperature responses to given emission reduction paths implied by the climate modules of the well-known integrated assessments models DICE, FUND and PAGE are...
Persistent link: https://www.econbiz.de/10011718250