. It shows that greater uncertainty about climate cost (for given unconditional expected costs) then delays the retrofit … infrastructure when uncertainty is greater. These decisions are efficient given that energy and carbon prices facing the decision … maker are (globally) correct, but would be inefficient when they are lower, as typical in practice. Greater uncertainty …

circulation model. It also features Epstein-Zin utility and uncertainty about climate sensitivity that resolves after some time …

changes in the interest rate on macroeconomic investment under the scenarios of certainty and uncertainty. We capture the … macroeconomic investment in times of low or even zero interest rates and high uncertainty. Only if the central bank implements …

the scenarios of both certainty and uncertainty. We capture the direct interest rate-hysteresis on the investments and the … of a central bank’s interest rate policy, e.g. in times of low or even zero interest rates and high uncertainty, in terms …

the scenarios of both certainty and uncertainty. We capture the direct interest rate-hysteresis on the investments and the … of a central bank's interest rate policy, e.g. in times of low or even zero interest rates and high uncertainty, in terms …

the scenarios of both certainty and uncertainty. We capture the direct interest rate-hysteresis on the investments and the … of a central bank's interest rate policy, e.g. in times of low or even zero interest rates and high uncertainty, in terms …