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temperature. These inconsistencies affect economic prescriptions to abate CO2 emissions. Controlling for how the economy is …
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Climate change must deal with two market failures, global warming and learning by doing in renewable use. The social optimum requires an aggressive renewables subsidy in the near term and a gradually rising carbon tax which falls in long run. As a result, more renewables are used relative to...
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damages from climate change for both a socially optimal and a business-as-usual scenario in the market economy within the … production output, and the economy is along a development path, the social cost of carbon and the optimal carbon tax are smaller … as damages can more easily be compensated for by higher output. As a result, the economy switches later from fossil fuel …
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If global warming is to stay below 2°C, there are four risks of assets stranding. First, substantial fossil fuel reserves will be stranded at the end of the fossil era. Second, this will be true for exploration capital too. Third, unanticipated changes in present or expected future climate...
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