We introduce a “smart” cap and trade system that eliminates the welfare costs of asymmetric information (“uncertainty …

technological uncertainty favors taxes over cap and trade. Weitzman models a flow pollutant, but greenhouse gases are persistent …

forecasting accuracy significantly. Higher uncertainty is found to increase the leverage and macro effects from credit and … commodity markets on stock market realized volatility. Specifically, Economic Policy Uncertainty is shown to be one of the main …

Macroeconomic uncertainty affects the subjective distribution of individual expectations. Using four panel datasets, we … document the effects of macro uncertainty on the mean expectation (first moment) and subjective uncertainty (second moment) of … income forecasts. We find that macro uncertainty reduces the mean expectation of income when using professional forecasters …

a self-financing policy (based on convex risk measures) is proposed and implemented. …

technological uncertainty favors taxes over cap and trade. Weitzman models a flow pollutant, but greenhouse gases are persistent …

We introduce a “smart” cap and trade system that eliminates the welfare costs of asymmetric information (“uncertainty …