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Climate Change Around the World
Krusell, Per; Smith, Anthony A. - National Bureau of Economic Research - 2022
The economic effects of climate change vary across both time and space. To study these effects, this paper builds a global economy-climate model featuring a high degree of geographic resolution. Carbon emissions from the use of energy in production increase the Earth's (average) temperature and...
Persistent link: https://www.econbiz.de/10013361992
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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/10012464221
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On a World Climate Assembly and the Social Cost of Carbon
Weitzman, Martin - 2016
This paper postulates the conceptually useful allegory of a futuristic "World Climate Assembly" (WCA) that votes for a … emitter's single-peaked most-preferred world price of carbon emissions to the world "Social Cost of Carbon" (SCC). The second … and third propositions relate the WCA-voted world price of carbon to the world SCC. I argue that the WCA-voted price and …
Persistent link: https://www.econbiz.de/10012455867
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How a Minimum Carbon Price Commitment Might Help to Internalize the Global Warming Externality
Weitzman, Martin L. - 2016
It is difficult to resolve the global warming free-rider externality problem by negotiating many different quantity targets. By contrast, negotiating a single internationally-binding minimum carbon price (the proceeds from which are domestically retained) counters self-interest by incentivizing...
Persistent link: https://www.econbiz.de/10012456478
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The Economics of Climate Change
Goulder, Lawrence H. - 2006
Global climate change poses a threat to the well-being of humans and other living things through impacts on ecosystem functioning, biodiversity, capital productivity, and human health. This paper briefly surveys recent research on the economics of climate change, including theoretical insights...
Persistent link: https://www.econbiz.de/10012466748
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Output and Attribute-Based Carbon Regulation Under Uncertainty
Kellogg, Ryan - 2019
Output-based carbon regulations--such as fuel economy standards and the rate-based standards in the Clean Power Plan--create well-known incentives to inefficiently increase output. Similar distortions are created by attribute-based regulations. This paper demonstrates that, despite these...
Persistent link: https://www.econbiz.de/10012480118
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Climate Sensitivity Uncertainty : When is Good News Bad?
Freeman, Mark C. - 2015
Climate change is real and dangerous. Exactly how bad it will get, however, is uncertain. Uncertainty is particularly relevant for estimates of one of the key parameters: equilibrium climate sensitivity--how eventual temperatures will react as atmospheric carbon dioxide concentrations double....
Persistent link: https://www.econbiz.de/10012457766
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The Social Cost of Stochastic and Irreversible Climate Change
Cai, Yongyang - 2013
towards risk. We find that the uncertainty associated with anthropogenic climate change imply carbon taxes much higher than …
Persistent link: https://www.econbiz.de/10012459957
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Climate Change and Growth Risks
Bansal, Ravi - 2016
accounts for the interaction between temperature, economic growth and risk. The model simultaneously matches the projected … temperature path, the observed consumption growth dynamics, discount rates provided by the risk-free rate and equity market …
Persistent link: https://www.econbiz.de/10012455671
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Pareto-Improving Carbon-Risk Taxation
Kotlikoff, Laurence J. - 2020
expected path of climate damage. The second, which is this paper's focus, is an expected path of economic risk. To isolate the … climate-risk problem, we consider mean-zero, symmetric shocks in our 12-period, overlapping generations model. These shocks …-improving carbon taxation can dramatically lower climate risk, in general, and disaster risk, in particular. The associated climate-risk …
Persistent link: https://www.econbiz.de/10012481877