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Climate Regulation and Emissions Abatement : Theory and Evidence from Firms’ Disclosures

Ramadorai, Tarun - 2020

We construct measures of firms' beliefs about climate regulation, plans for future abatement, and current actions on … abatement is strongly affected by firms' beliefs about climate regulation, with cross-firm interactions amplifying the … effectiveness of regulation …

Persistent link: https://www.econbiz.de/10012847312

Global Spillovers of US Climate Policy Risk : Evidence from EU Carbon Emissions Futures

Fields, Micah; Lindequist, David - 2022

Mitigating climate change is a global public good to which many different countries contribute. The incentive of each country to contribute through the provision of effective climate policies depends on other countries’ contributions. Climate policy risk spillovers arise when expected changes...

Persistent link: https://www.econbiz.de/10013403581

Regulating stock externalities

Gerlagh, Reyer; Heijmans, Roweno - 2018

We develop a dynamic regulation game for a stock externality under asymmetric information and future market uncertainty …. Within this framework, regulation is characterized as the implementation of a welfare-maximization program conditional on …-consistent policy rules that implement the stochastic first best as long as a future market exists. We apply our theory to carbon …

Persistent link: https://www.econbiz.de/10011939765

Supply Side Climate Policy and the Green Paradox

Hoel, Michael - 2013

The focus of the green paradox literature has been either on demand-side climate policies or on effects of technological changes. The present paper addresses the question of whether there also might be some kind of green paradox related to supply-side policies, i.e. policies that per-manently...

Persistent link: https://www.econbiz.de/10013086981

Endogenous Growth, Convexity of Damages and Climate Risk : How Nordhaus' Framework Supports Deep Cuts in Carbon Emissions

Dietz, Simon - 2014

'To slow or not to slow' (Nordhaus, 1991) was the first economic appraisal of greenhouse gas emissions abatement and founded a large literature on a topic of great, worldwide importance. In this paper we o ffer our assessment of the original article and trace its legacy, in particular Nordhaus'...

Persistent link: https://www.econbiz.de/10013050340

Robustness of a simple rule for the social cost of carbon

Rezai, Armon; Ploeg, Frederick van der - 2014

The optimal social cost of carbon is in general equilibrium proportional to GDP if utility is logarithmic, production is Cobb-Douglas, depreciation in 100% every period, climate damages as fraction of production decline exponentially with the stock of atmospheric carbon, and fossil fuel...

Persistent link: https://www.econbiz.de/10010257341

What we know and don't know about climate change, and implications for policy

Pindyck, Robert S. - 2020 - This draft: May 11, 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/10012225170

The Social Cost of Carbon and the Ramsey Rule

Withagen, Cees - 2019

The objective of this paper is to critically assess the use of simple rules for the social cost of carbon (SCC) that employ a rudimentary form of the Ramsey Rule. Two interrelated caveats apply. First, if climate change poses a serious problem, it is hard to justify an exogenous constant growth...

Persistent link: https://www.econbiz.de/10012892228

Carbon policy and the emissions implications of electric vehicles

Gillingham, Kenneth; Ovaere, Marten; Weber, Stephanie - 2021

Creativity is often highly concentrated in time and space, and across different domains. What explains the formation and decay of clusters of creativity? We match data on notable individuals born in Europe between the XIth and the XIXth century with historical city data. The production and...

Persistent link: https://www.econbiz.de/10012494796

Bayesian Learning and Regulation of Greenhouse Gas Emissions

Karp, Larry S.; Zhang, Jiangfeng - 2013

We study the importance of anticipated learning - about both environmental damages and abatement costs - in determining the level and the method of controlling greenhouse gas emissions. We also compare active learning, passive learning, and parameter uncertainty without learning. Current beliefs...

Persistent link: https://www.econbiz.de/10014126426