stochastic pollution tax, which is uncorrelated with the technological uncertainty of pollution, is compared with a pure … uncertainty associated with pollution leads to an increase in abatement activities and therefore supports the corresponding …

uncertainty into Integrated Assessment Models (IAMs). Uncertainty is transformed into a risk-premium, damage-correction, region …. This risk premium quantifies what society would be willing to pay to insure against the uncertainty of the damages, and it …

consumption choice as well as on economic growth is ambiguous as it affects the mean as well as the variance of disposable income …

In this paper the impacts of income and consumption taxes are analyzed within a model of stochastic endogenous growth … with congestion. It is shown that the optimal amount of governmental input diminishes with uncertainty and that the optimal …

ascribed to the specific int eraction of consumption and portfolio choice in the determination of growth and welfare. …

environmental preferences and uncertainty on optimal financing is ambiguous. …

activity on optimal consumption and investment. Here, learning introduces two sources of risk about future payoffs: structural … uncertainty and uncertainty from the anticipation of learning. The latter renders control and learning nonseparable. We present … decreases optimal consumption are provided. The effect depends on the strengths and directions of the two sources of risk, which …

environmental preferences and uncertainty on optimal financing is ambiguous. …

This paper presents a theory of the productivity slowdown based on the effects that uncertainty has on the productivity … of specialized capital. Uncertainty reduces the efficiency of inflexible capital and generates a slowdown. It also … technologies as the cause of the slowdown. The model also highlights the positive effect that uncertainty has on the speed of …