Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: http://hdl.handle.net/10419/198952
Autoren: 
van den Bremer, Ton S.
van der Ploeg, Rick
Datum: 
2019
Schriftenreihe/Nr.: 
CESifo Working Paper No. 7592
Zusammenfassung: 
We use perturbation methods to derive a rule for the optimal risk-adjusted social cost of carbon (SCC) that incorporates the effects of uncertainties associated with climate and the economy from a calibrated DSGE model. We allow for different aversions to risk and intertemporal fluctuations, convex damages, uncertainties in economic growth, atmospheric carbon, climate sensitivity and damages, their correlations, and distributions that are skewed in the longer run to capture long-run climate feedbacks. Our non-certainty-equivalent rule for the SCC incorporates precaution, risk insurance, and climate sensitivity and damage rate hedging effects to deal with future economic and climatic and damage risks.
Schlagwörter: 
precaution
insurance
hedging
economic
climatic and damage uncertainties
skewness
mean reversion
correlated risks
risk aversion
intergenerational inequality aversion
convex damages
JEL: 
H21
Q51
Q54
Dokumentart: 
Working Paper

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