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Allocating Risks in a Domestic Greenhouse Gas Trading System
Kerr, Suzi - 2013
As tradeable permit programmes mature, two inter-related issues are becoming more critical in creating viable responses to a long-term, highly uncertain environmental problem such as climate change. First, we need to update policies in response to new information; and second, we need to design...
Persistent link: https://www.econbiz.de/10014075602
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Climate Uncertainty and the Necessity to Transform Global Energy Supply
van der Zwaan, Bob; Gerlagh, Reyer - 2014
This paper analyses the policy relevance of the dominant uncertainties in our current scientific understanding of the terrestrial climate system, and provides further evidence for the need to radically transform - this century - our global infrastructure of energy supply, given the global...
Persistent link: https://www.econbiz.de/10014071244
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Educational and wage risk : social insurance vs. quality of education
Schindler, Dirk; Weigert, Benjamin - 2008
In this model of education, where individuals are exposed both to educational risk and to wage risk within the skilled sector, successful graduation depends both on individual effort to study and on public resources. We show that insuring the present risks is a dichotomic task: Wage risk is...
Persistent link: https://www.econbiz.de/10003806025
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Precautionary Principle, Robustness and Optimal Taxes for a Stock Pollutant with Multiplicative Risk
Gonzalez, Fidel - 2008
to regulate a stock pollutant, and I analyze its effect on expected steady state pollution taxes, stocks and welfare. The … in either uncertainty about the model or risk about abatement cost increases expected steady state pollution taxes; (2) a … uncertainty or higher multiplicative risk and (3) the effect on expected steady state pollution taxes and stock of introducing …
Persistent link: https://www.econbiz.de/10012770526
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The risk-adjusted carbon price
Ploeg, Frederick van der; Bremer, Ton van den - 2021
The social cost of carbon is the expected present value of damages from emitting one ton of carbon today. We use perturbation theory to derive an approximate tractable expression for this cost adjusted for climatic and economic risk. We allow for different aversion to risk and intertemporal...
Persistent link: https://www.econbiz.de/10012545108
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Climate policies under climate model uncertainty : max-min and min-max regret
Rezai, Armon; Ploeg, Frederick van der - 2017 - Revised May 2017
Temperature responses and optimal climate policies depend crucially on the choice of a particular climate model. To illustrate, the temperature responses to given emission reduction paths implied by the climate modules of the well-known integrated assessments models DICE, FUND and PAGE are...
Persistent link: https://www.econbiz.de/10011718250
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The risk-adjusted carbon price
Bremer, Ton S. van den; Ploeg, Frederick van der - 2019
We use perturbation methods to derive a rule for the optimal risk-adjusted social cost of carbon (SCC) that incorporates the effects of uncertainties associated with climate and the economy from a calibrated DSGE model. We allow for different aversions to risk and intertemporal fluctuations,...
Persistent link: https://www.econbiz.de/10011996310
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Climate Policies Under Climate Model Uncertainty : Max-Min and Min-Max Regret
Rezai, Armon - 2017
Temperature responses and optimal climate policies depend crucially on the choice of a particular climate model. To illustrate, the temperature responses to given emission reduction paths implied by the climate modules of the well-known integrated assessments models DICE, FUND and PAGE are...
Persistent link: https://www.econbiz.de/10012947620
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Taxes and Quotas for a Stock Pollutant with Multiplicative Uncertainty
Hoel, Michael; Karp, Larry S. - 1999
We compare taxes and quotas when firms and the regulator have asymmetric information about abatement costs. Damages are … abatement costs. We calibrate the model using cost and damage estimates of greenhouse gases. As with additive uncertainty, taxes … dominate quotas. The advantage of taxes is much greater with mulitiplicative, compared to additive uncertainty …
Persistent link: https://www.econbiz.de/10014196230
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Taxes Versus Quotas for a Stock Pollutant
Hoel, Michael; Karp, Larry S. - 1998
We compare the effects of taxes and quotas for an environmental problem in which the regulator and polluter have …, taxes are more likely to dominate quotas the greater is the curvature of the abatement cost function relative to the … regulator?s or the firms? ability to make adjustments, all increase the likelihood that taxes dominate quotas. An empirical …
Persistent link: https://www.econbiz.de/10014213747