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uncertainty with respect to the timing and the size of an adverse weather shock. We subsequently calibrate the model to match the …
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Climate economics has been criticized for ignoring uncertainty, catastrophic changes, and tipping points (Stern 2016 … technology and damages, coupled with a relative risk aversion which exceeds unity, the abatement propensity increases to 2 …
Persistent link: https://www.econbiz.de/10011985373
Climate physics predicts that the intensity of natural disasters will increase in the future due to climate change. We present a stochastic model of a growing economy where natural disasters are multiple and random, with damages driven by the economy's polluting activity. We provide a...
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of the biggest challenges for economic modeling is the inherent uncertainty of climate events, which crucially affects …
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. This paper studies the optimizing behavior of undocumented immigrants who continuously face the risk of deportation … uncertainty with respect to the length of stay abroad unambiguously reduces the desired migration duration and may trigger a …
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