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Minimax-Regret Climate Policy with Deep Uncertainty in Climate Modeling and Intergenerational Discounting
DeCanio, Stephen J.; Manski, Charles F.; Sanstad, Alan H. - National Bureau of Economic Research - 2022
Integrated assessment models have become the primary tools for comparing climate policies that seek to reduce greenhouse gas emissions. Policy comparisons have often been performed by considering a planner who seeks to make optimal trade-offs between the costs of carbon abatement and the...
Persistent link: https://www.econbiz.de/10012938685
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Climate Change Uncertainty Spillover in the Macroeconomy
Barnett, Michael; Brock, William A.; Hansen, Lars Peter - National Bureau of Economic Research - 2021
The design and conduct of climate change policy necessarily confronts uncertainty along multiple fronts. We explore the consequences of ambiguity over various sources and configurations of models that impact how economic opportunities could be damaged in the future. We appeal to decision theory...
Persistent link: https://www.econbiz.de/10012599354
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Investor Rewards to Climate Responsibility : Evidence from the 2016 Climate Policy Shock
Ramelli, Stefano; Wagner, Alexander F.; Zeckhauser, Richard - 2019 - Revised July 2019
Donald Trump's election and his nomination of Scott Pruitt, a climate skeptic, to lead the Environmental Protection Agency drastically downshifted expectations on US climate-change policy. We study firms' stock-price reactions and institutional investors' portfolio adjustments after these...
Persistent link: https://www.econbiz.de/10012480961
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What We Know and Don't Know about Climate Change, and Implications for Policy
Pindyck, Robert S. - 2020
There is a lot we know about climate change, but there is also a lot we don't know. Even if we knew how much CO2 will be emitted over the coming decades, we wouldn't know how much temperatures will rise as a result. And even if we could predict the extent of warming that will occur, we can say...
Persistent link: https://www.econbiz.de/10012481498
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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/10012453079
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Climate Change Adaptation : Lessons from Urban Economics
Kahn, Matthew E. - 2014
In an urbanizing world economy featuring thousands of cities, households and firms have strong incentives to make locational investments and self protection choices to reduce their exposure to new climate change induced risks. This pursuit of self interest reduces the costs imposed by climate...
Persistent link: https://www.econbiz.de/10012457950
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Aiding Decision-Making to Reduce the Impacts of Climate Change
Kunreuther, Howard - 2014
Utilizing theory and empirical insights from psychology and behavioral economics, this paper examines individuals' cognitive and motivational barriers to adopting climate change adaptation and mitigation measures that increase consumer welfare. We explore various strategies that take into...
Persistent link: https://www.econbiz.de/10012458873
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A Welfare Analysis of Policies Impacting Climate Change
Hahn, Robert William; Hendren, Nathaniel; Metcalfe, … - National Bureau of Economic Research - 2024
What are the most effective ways to address climate change? This paper extends and applies the marginal value of public funds (MVPF) framework to help answer this question. We examine 96 US environmental policy changes studied over the past 25 years. These policies span subsidies (wind,...
Persistent link: https://www.econbiz.de/10014635691
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Producer Beliefs and Conservation : The Impact of Perceived Water Scarcity on Irrigation Technology Adoption
Blumberg, Joey; Goemans, Chris; Manning, Dale - National Bureau of Economic Research - 2022
examine how a producer's beliefs about water shortages influence investment in more efficient irrigation technologies. We then … a more efficient irrigation technology on average. We also present evidence that adoption rates are driven more by …
Persistent link: https://www.econbiz.de/10013210108
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Center Pivot Irrigation Systems as a Form of Drought Risk Mitigation in Humid Regions
Cooley, Daniel J.; Smith, Steven M. - National Bureau of Economic Research - 2022
Irrigation in the Eastern US receives little attention compared to the West, but farmers in humid states of the US …, traditionally reliant on rainfall, have more than tripled irrigation since 1978. We examine this trend in Illinois where there has … been a nearly threefold increase in center pivot irrigation systems (CPIS) installations since 1988. Specifically, we …
Persistent link: https://www.econbiz.de/10013210121