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This paper explores three possible transmission channels for transition risk shocks to the financial system in Norway. First, we estimate the direct firm-level impact of a substantial increase in domestic carbon prices under severe assumptions. Second, we map the impact of a drastic increase in...
Persistent link: https://www.econbiz.de/10013252050
irreversible climate impacts, called a tipping point, occurs. Tax paths are compared with a cost-minimising approach where an upper …
Persistent link: https://www.econbiz.de/10012863680
This paper builds a framework to quantify the financial stability implications of climate-related transition risk in …
Persistent link: https://www.econbiz.de/10013306729
Climate Economy (ACE) closes a gap between analytic climate change assessments and quantitative numeric integrated assessment …
Persistent link: https://www.econbiz.de/10012896033
Given that many of the predicted effects of climate change are considered imminent and unavoidable, the need to …-focused information about the effects of climate change influences the personal perceived risk (PPR) of individual people. Based on a … information on climate change effects that is more personally relevant to the individual and is concerned with his local …
Persistent link: https://www.econbiz.de/10010302585
Die Modellierung des CO2-Zertifikatepreisrisikos ist ein wichtiger Teilaspekt eines ganzheitlichen Managements von mit dem Emissionshandel verbundenen Unternehmensrisiken. Das Papier diskutiert ein Preisbildungsmodell, auf dessen Grundlage das Zertifikatepreisrisiko bewertet werden kann. Es wird...
Persistent link: https://www.econbiz.de/10010269911
climate policy. In this paper we therefore contribute to the literature by assessing the implications of low … indicate the importance of tail risk and call for foresighted pre-emptive climate policies. …
Persistent link: https://www.econbiz.de/10010270651
Since the introduction of the European CO2 emissions trading system (EU ETS), the development of CO2 allowance prices is a new risk factor for enterprises taking part in this system. In this paper, we analyze how risk emerging from emissions trading can be considered in the stochastic profit and...
Persistent link: https://www.econbiz.de/10010271411
associated with climate change, and downplays the impact of current emissions on future generations. Our reanalysis explores the … effects of uncertainty about climate sensitivity, the shape of the damage function, and the discount rate. We show that the … climate sensitivity, high damages, and a low discount rate, the social cost of carbon could be almost $900/tCO2 in 2010 …
Persistent link: https://www.econbiz.de/10010308735
climate policy. In this paper we therefore contribute to the literature by assessing the implications of low … indicate the importance of tail risk and call for foresighted pre-emptive climate policies. -- Climate Policy ; Extreme Events …
Persistent link: https://www.econbiz.de/10003977579