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We develop a financial-economic model for carbon pricing with an explicit representation of decision making under risk … specifications. We show that risk associated with high damages in the long term leads to stringent mitigation of carbon dioxide … emissions in the near term. Our results provide insight into how a systematic incorporation of climate-related risk influences …
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This paper examines the relationship between climate risk and climate policy uncertainty and CO2 emissions in the US …, with an aim to contribute to the better understanding of the drivers of emissions. We proxy for climate risk using the cost … the climate risk proxies with the CPU Index, results are qualitatively similar; in addition, there is a strong impact of …
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Yale University professor John Geanakoplos discusses implications of “the leverage cycle”—a phenomenon in which leverage is excessive prior to a financial crisis and unacceptably low during the crisis—for regulatory policy and reform. Presented as the keynote address at "Central Bank...
Persistent link: https://www.econbiz.de/10008461919
users face risk of ex post renegotiation. Such a governance structure will also be sufficient to avoid the network effect. …
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