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Uncertainty, Climate Change and the Global Economy
von Below, David - 2008
The paper illustrates how one may assess our comprehensive uncertainty about the various relations in the entire chain from human activity to climate change. Using a modified version of the RICE model of the global economy and climate, we perform Monte Carlo simulations, where full sets of...
Persistent link: https://www.econbiz.de/10012769638
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Projections and Uncertainties About Climate Change in an Era of Minimal Climate Policies
Nordhaus, William D. - 2016
Climate change remains one of the major international environmental challenges facing nations. Up to now, nations have to date adopted minimal policies to slow climate change. Moreover, there has been no major improvement in emissions trends as of the latest data. The current study uses the...
Persistent link: https://www.econbiz.de/10012977286
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Global Melting? The Economics of Disintegration of the Greenland Ice Sheet
Nordhaus, William D. - 2018
Concerns about the impact on large-scale earth systems have taken center stage in the scientific and economic analysis of climate change. The present study analyzes the economic impact of a potential disintegration of the Greenland Ice Sheet (GIS). The method is to combine a small geophysical...
Persistent link: https://www.econbiz.de/10012918080
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Spillovers from Climate Policy
Holland, Stephen P. - 2010
Climate policy spillovers can be either positive or negative since firms change their production processes in response to climate policies, which may either increase or decrease emissions of other pollutants. Understanding these ancillary benefits or costs has important implications for climate...
Persistent link: https://www.econbiz.de/10013141315
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The Perception and Valuation of the Risks of Climate Change : A Rational and Behavioral Blend
Viscusi, W. Kip - 2012
was 1-3 degrees Fahrenheit. In addition, people with higher risk estimates, whether for temperature or related risks (e …, significant behavioral propensities also emerged. For example, accessibility of neutral information on global warming boosted risk …
Persistent link: https://www.econbiz.de/10012755602
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The Choice of Discount Rate for Climate Change Policy Evaluation
Goulder, Lawrence H. - 2012
Nearly all discussions about the appropriate consumption discount rate for climate-change policy evaluation assume that a single discount rate concept applies. We argue that two distinct concepts and associated rates apply. We distinguish a social-welfare-equivalent discount rate appropriate for...
Persistent link: https://www.econbiz.de/10013101826
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Crash Risk in Currency Markets
Farhi, Emmanuel - 2010
1996 to 2011 period using exchange rate spot, forward, and option data, we obtain a real-time index of world disaster risk … expected exchange rate depreciations (appreciations) for high (low) interest rate currencies, suggesting that disaster risk is … priced in currency markets. To study the price of disaster risk, we propose a simple structural model that includes both …
Persistent link: https://www.econbiz.de/10013152552
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Global Macro Risks in Currency Excess Returns
Berg, Kimberly - 2017
global macroeconomic fundamental risk. The risk factor is the cross-country high-minus-low conditional skewness of the …
Persistent link: https://www.econbiz.de/10012948089
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The Use and Misuse of Models for Climate Policy
Pindyck, Robert S. - 2015
In recent articles, I have argued that integrated assessment models (IAMs) have flaws that make them close to useless as tools for policy analysis. IAM-based analyses of climate policy create a perception of knowledge and precision that is illusory, and can fool policy-makers into thinking that...
Persistent link: https://www.econbiz.de/10013024159
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Designing Climate Mitigation Policy
Aldy, Joseph E. - 2010
This paper provides an exhaustive review of critical issues in the design of climate mitigation policy by pulling together key findings and controversies from diverse literatures on mitigation costs, damage valuation, policy instrument choice, technological innovation, and international climate...
Persistent link: https://www.econbiz.de/10013152601