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Standard environmental economics prescribes policies which are optimal and implemented immediately. The paper argues that, in reality, environmental policy often deviates from the optimum and implementation is not deterministic but subject to major uncertainty and frequent change. We present a...
Persistent link: https://www.econbiz.de/10011818392
technology and damages, coupled with a relative risk aversion which exceeds unity, the abatement propensity increases to 2 …
Persistent link: https://www.econbiz.de/10012917806
We consider an empirical estimation of the Environmental Kuznets Curve (EKC) for carbon dioxide and sulphur, with a focus on confidence set estimation of the tipping point. Various econometric – parametric and nonparametric – methods are considered, reflecting the implications of...
Persistent link: https://www.econbiz.de/10014041945
technology and damages, coupled with a relative risk aversion which exceeds unity, the abatement propensity increases to 2 …
Persistent link: https://www.econbiz.de/10011857735
from natural hazards. Increasing investments in disaster risk reduction have led to a significant reduction in human … and poor countries. The analysis suggests indeed that economic growth leads to better defenses but also more risk taking …
Persistent link: https://www.econbiz.de/10013076598
One of the central ways that the costs of global warming are incorporated into U.S. law is in cost-benefit analysis of federal regulations. In 2010, to standardize analyses, an Interagency Working Group (IAWG) established a central estimate of the social cost of carbon (SCC) of $21/tCO2 drawn...
Persistent link: https://www.econbiz.de/10013035197
growth model to explore the conditions under which an economy is sustainable, considering different types of risk. In general … equilibrium, sustainability boils down to supply-side factors, with increased growth, decreased consumption risk, and greater …, catastrophic risk management, investments in clean and dirty technologies, and the importance of risk-sharing assets …
Persistent link: https://www.econbiz.de/10014255987
This paper proposes an analytical framework for assessing policies that will contribute to a better integration of environmental externalities in the pursuit of economic efficiency and growth objectives. The framework consists of two parts. The first part lays out principles and criteria for the...
Persistent link: https://www.econbiz.de/10012446914
We present a multi-country theory of economic growth in which countries are connected by a network of mutual knowledge … knowledge throughout the world explains a period of increasing world inequality after the take-off of the forerunners of the … industrial revolution, followed by decreasing relative inequality. Knowledge diffusion through a Small World network explains the …
Persistent link: https://www.econbiz.de/10011397182
We present a multi-country theory of economic growth in which countries are connected by a network of mutual knowledge … country depends on its connections to the rest of the world and on the human capital of the countries it is exchanging … knowledge with. We show how the diffusion of knowledge through the world explains the evolution of global income inequality. It …
Persistent link: https://www.econbiz.de/10010253459