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Gollier and Weitzman (2010) show that if future consumption discount rates are uncertain and persistent, the consumption discount rate should decline to its lowest possible value for events in the most distant future. In this paper, I argue that the lowest possible growth rate of consumption per...
Persistent link: https://www.econbiz.de/10010328352
Weitzman (1998) showed that when future interest rates are uncertain, using the expected net present value implies a term structure of discount rates that is decreasing to the smallest possible interest rate. On the contrary, using the expected net future value criterion implies an increasing...
Persistent link: https://www.econbiz.de/10010274006
It is not immediately clear how to discount distant-future events, like climate change, when the distant-future discount rate itself is uncertain. The so-called Weitzman-Gollier puzzle is the fact that two seemingly symmetric and equally plausible ways of dealing with uncertain future discount...
Persistent link: https://www.econbiz.de/10010274007
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under the Clean Development Mechanism (CDM), valid for afforestation and reforestation activities. In order to account for …
Persistent link: https://www.econbiz.de/10010295423
This paper studies the effect of a CDM tree-planting project on carbon sequestration and urban and rural income distribution, taking economy-wide impacts into account. Carbon sequestration in agricultural soil is considered in addition to the carbon in the tree farm itself. The study points to...
Persistent link: https://www.econbiz.de/10011968304
This paper analyzes the role of afforestation-reforestation and timber management activities, and their major and … the European domestic portfolio of a 2020-20 and 2020-30 climate stabilization policy. Afforestation and land use are … afforestation and timber management could lead to substantially lower policy costs if included. By allowing afforestation alone it …
Persistent link: https://www.econbiz.de/10010279450
After successful government-led afforestation projects, what are the challenges for forest management in the face of …
Persistent link: https://www.econbiz.de/10014520984
Every year between 2000 and 2010, our planet lost native forests roughly the size of Costa Rica. (FAO, 2010). This rapid deforestation has dramatically changed the chemical composition of the world's atmosphere, the level of biodiversity, and the presence of vegetation key to maintaining...
Persistent link: https://www.econbiz.de/10010377344