Showing 1 - 10 of 29
Focusing on tail effects, I incorporate distributions for temperature change and its economic impact in an analysis of climate change policy. I estimate the fraction of consumption w*(τ) that society would be willing to sacrifice to ensure that any increase in temperature at a future point is...
Persistent link: https://www.econbiz.de/10003889114
Persistent link: https://www.econbiz.de/10003873011
Persistent link: https://www.econbiz.de/10009569481
Persistent link: https://www.econbiz.de/10009577709
Persistent link: https://www.econbiz.de/10009566942
Focusing on tail effects, I incorporate distributions for temperature change and its economic impact in an analysis of climate change policy. I estimate the fraction of consumption w*(tau) that society would be willing to sacrifice to ensure that any increase in temperature at a future point is...
Persistent link: https://www.econbiz.de/10012463391
Persistent link: https://www.econbiz.de/10012285486
I examine the risk/return tradeoff for environmental investments, and its implications for policy choice. Consider a policy to reduce carbon emissions. To what extent does the value of such a policy depend on the expected future damages from global warming versus uncertainty over those damages,...
Persistent link: https://www.econbiz.de/10012460398
What is the likelihood that the U.S. will experience a devastating catastrophic event over the next few decades – something that would substantially reduce the capital stock, GDP and wealth? What does the possibility of such an event imply for the behavior of economic variables such as...
Persistent link: https://www.econbiz.de/10003889027
Persistent link: https://www.econbiz.de/10003889752