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In a Ramsey policy regime, heterogeneity in beliefs about the potential costs of climate change is shown to produce policy ambiguities that alter carbon prices and taxation. Three sources of ambiguity are considered: (i) the private sector is skeptical, with beliefs that are unknown to the...
Persistent link: https://www.econbiz.de/10013498952
uncertainty of climate impacts. Using a two-period sequential decision making model, we analytically derive optimal rates for the … two control variables, abatement and sequestration rates. Uncertainty is assumed to affect the desired future …. Contrary to recent numerical studies, we find that uncertainty can make it optimal to use carbon sequestration either earlier …
Persistent link: https://www.econbiz.de/10010737814
This paper investigates the intertemporal monopolistic supply of a clean technology and addresses the following questions: How does the lack of governments to commit restrict the incentives and thereby the supply of clean technologies? Are either emission taxes or emission permits better suited...
Persistent link: https://www.econbiz.de/10010737811
We study a dynamic stochastic general equilibrium model in which agents are concerned about model uncertainty regarding … from climate change to damages is subject to uncertainty, as opposed to risk, and we use robust control to study efficiency … growth in the presence and in the absence of concerns about model uncertainty, and find that these can lead to substantially …
Persistent link: https://www.econbiz.de/10011800911
Persistent link: https://www.econbiz.de/10011734250
This paper investigates the asymmetric effects of climate policy uncertainty (CPU) and the global price of energy index … climate policy uncertainty and energy prices influence Bitcoin prices. Using the monthly data of CPU, GPEI, and BTC from 2013M … policy uncertainty and fluctuations in energy prices, as these factors can significantly asymmetrically impact Bitcoin prices. …
Persistent link: https://www.econbiz.de/10014433992
Environmental, Social, and Governance (ESG) is a market for environmental criteria that has recently attracted the attention of policymakers and in particular European Union (EU) countries to improve environmental quality. In the context of the EU Sustainable Development Goals, this study aims...
Persistent link: https://www.econbiz.de/10014635477
Persistent link: https://www.econbiz.de/10014446937
Persistent link: https://www.econbiz.de/10008702322
We study dynamic signaling in a game of stochastic stakes. Each period, a privately informed agent of binary type chooses whether to continue receiving a return that is an increasing function of both her reputation and an exogenous public stakes variable or to irreversibly exit the game. A...
Persistent link: https://www.econbiz.de/10013273761