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We develop indices of Twitter-based Chinese Climate Uncertainty (TC-CU) and Climate Policy Uncertainty (TC-CPU). Our …, among many others. We find that TC-CPU is associated with future US climate uncertainty and attention measures while US …
Persistent link: https://www.econbiz.de/10014030711
Within a non-cooperative transboundary pollution game, we investigate the impact of the adoption of a cleaner technology (i.e., a decrease in the emission to output ratio). We show that countries may respond by increasing their emissions resulting in an increase in the stock of pollution that...
Persistent link: https://www.econbiz.de/10010753153
technological uncertainty favors taxes over cap and trade. Weitzman models a flow pollutant, but greenhouse gases are persistent …
Persistent link: https://www.econbiz.de/10011927948
We introduce a "smart" cap and trade system that eliminates the welfare costs of asymmetric information (“uncertainty …
Persistent link: https://www.econbiz.de/10012438358
. We present a laboratory experiment that studies how residual risk of failure affects willingness to contribute to climate … risk than in treatments without one. We interpret this as an outcome of a psychological process where residual risk puts …
Persistent link: https://www.econbiz.de/10011738574
Persistent link: https://www.econbiz.de/10011801322
The analysis of the conditions under which, and extent to which climate-adjusted financial risk assessment affects … limiting firms’ capacity to invest in low-carbon activities that could decrease their exposure to transition risk and help them …
Persistent link: https://www.econbiz.de/10014083633
Diverging beliefs about the impact of climate policy on the value of fossil fuel assets can lead investors to different valuations of fossil fuel companies. This paper models the share price formation in a market where one group of investors systematically overestimate future prices, and...
Persistent link: https://www.econbiz.de/10012830439
This paper quantifies the loan exposure to elevated environmental risk sectors of the banking system in the USA, EU … framework if prudential regulation of environmental risks is to be considered: the consideration or not of climate risk as … credit risk and the impact of environmental risks over probabilities of default over the entire business cycle …
Persistent link: https://www.econbiz.de/10012869044
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. …
Persistent link: https://www.econbiz.de/10012258563