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inefficient policy prescriptions and, furthermore, has the particularly undesirable consequence of incorrectly discounting future …
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The tractable general equilibrium model developed by Golosov et al. (2014), GHKT for short, is modified to allow for additional negative impacts of global warming on utility and productivity growth, mean reversion in the ratio of climate damages to production, labour-augmenting technical...
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forecasted energy prices. Using Danish guidelines as a case study, we explore the discounting assumptions in these input prices …
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