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 …

This paper investigates the effects of uncertainty on the macro economy by replicating its micro effects on individual … the two scenarios through the empirical macroeconomic uncertainty index. The higher the macroeconomic uncertainty is, the … appropriate level of ambiguity aversion outperforms the benchmark model with no uncertainty in fitting the US output growth rate …

of IEA formation when countries are risk neutral and another that explores the implications of uncertainty and risk …This paper analyses the formation of international environmental agreements (IEAs) under uncertainty, focusing on the … role of learning and risk aversion. It bridges two strands of literature: one focused on the role learning for the success …

uncertainty on firms' decisions and market outcomes. We construct alternative measures of uncertainty based on survey of … index, and fuel prices. Our results indicate that greater uncertainty has a negative impact on growth of employment and the … generally non-existent or weaker. Our results suggest that to truly understand the effects of uncertainty on firms' decisions …

We examine the impact of uncertainty on employment dynamics. Alternative measures of uncertainty are constructed based … stock price index, and fuel prices. Our results indicate that greater uncertainty has a negative impact on growth of … non-existent or weaker. Our results suggest that to truly understand the effects of uncertainty on employment dynamics, we …

find a quarter of students violated the order. Yet, neither risk preference, altruism, nor preexisting health conditions …

the literature on wage effects we add a breakdown of variances in heterogeneity and risk. …

price, the equilibrium risk-free rate, and risk premia. Climate disasters, which are more likely to occur sooner as … temperature rises, significantly increase risk premia. …

identify an asymmetric information problem: borrowers signal low financial risk to banks who are uncertain about borrower risk …