Ploeg, Frederick van der; Rezai, Armon - 2019 - Revised July 2019
uncertainty about future climate policy is resolved. E.g. abandoning climate policy plans immediately boosts scarcity rent, market … investment in exploration capital with intertemporal adjustment costs, depletion of reserves and market capitalization, and … capitalization, exploration investment and discoveries. To explain and quantify these four effects, we use an analytical model of …