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Fat Tails, Thin Tails, and Climate Change Policy

Citations

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Cited by:

  1. Matteo Coronese & Francesco Lamperti & Francesca Chiaromonte & Andrea Roventini, 2018. "Natural Disaster Risk and the Distributional Dynamics of Damages," LEM Papers Series 2018/22, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
  2. Li, Weijia & Roland, Gérard & Xie, Yang, 2020. "Erosion of state power, corruption control, and political stability," BOFIT Discussion Papers 5/2020, Bank of Finland, Institute for Economies in Transition.
  3. Pycroft, Jonathan & Vergano, Lucia & Hope, Chris & Paci, Daniele & Ciscar, Juan Carlos, 2011. "A tale of tails: Uncertainty and the social cost of carbon dioxide," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 5, pages 1-29.
  4. Tack, Jesse, 2013. "A Nested Test for Common Yield Distributions with Applications to U.S. Corn," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 38(1), pages 1-14, April.
  5. Joseph E. Aldy & Robert N. Stavins, 2021. "Rolling The Dice In The Corridors Of Power: William Nordhaus’S Impacts On Climate Change Policy," World Scientific Book Chapters, in: Robert Mendelsohn (ed.), CLIMATE CHANGE ECONOMICS Commemoration of Nobel Prize for William Nordhaus, chapter 1, pages 1-18, World Scientific Publishing Co. Pte. Ltd..
  6. Robert S. Pindyck, 2013. "Climate Change Policy: What Do the Models Tell Us?," Journal of Economic Literature, American Economic Association, vol. 51(3), pages 860-872, September.
  7. In Chang Hwang & Richard S.J. Tol & Marjan W. Hofkes, 2013. "Active Learning about Climate Change," Working Paper Series 6513, Department of Economics, University of Sussex Business School.
  8. David Anthoff & Richard S. J. Tol, 2022. "Testing the Dismal Theorem," Journal of the Association of Environmental and Resource Economists, University of Chicago Press, vol. 9(5), pages 885-920.
  9. Matthew J. Holian & Matthew E. Kahn, 2014. "Household Demand for Low Carbon Public Policies: Evidence from California," NBER Working Papers 19965, National Bureau of Economic Research, Inc.
  10. Hjort, Ingrid, 2016. "Potential Climate Risks in Financial Markets: A Literature Overview," Memorandum 01/2016, Oslo University, Department of Economics.
  11. Rick Van der Ploeg, 2020. "Discounting And Climate Policy," OxCarre Working Papers 244, Oxford Centre for the Analysis of Resource Rich Economies, University of Oxford.
  12. Frederick Ploeg, 2021. "Carbon pricing under uncertainty," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 28(5), pages 1122-1142, October.
  13. Seth D. Baum & Timothy M. Maher & Jacob Haqq-Misra, 2013. "Double catastrophe: intermittent stratospheric geoengineering induced by societal collapse," Environment Systems and Decisions, Springer, vol. 33(1), pages 168-180, March.
  14. Raphael Calel & David Stainforth & Simon Dietz, 2015. "Tall tales and fat tails: the science and economics of extreme warming," Climatic Change, Springer, vol. 132(1), pages 127-141, September.
  15. Millner, Antony, 2013. "On welfare frameworks and catastrophic climate risks," Journal of Environmental Economics and Management, Elsevier, vol. 65(2), pages 310-325.
  16. Robert N. Stavins, 2011. "The Problem of the Commons: Still Unsettled after 100 Years," American Economic Review, American Economic Association, vol. 101(1), pages 81-108, February.
  17. Nævdal, Eric, 2016. "Catastrophes and ex post shadow prices—How the value of the last fish in a lake is infinity and why we should not care (much)," Journal of Economic Behavior & Organization, Elsevier, vol. 132(PB), pages 153-160.
  18. Chambers, Robert G. & Melkonyan, Tigran, 2017. "Ambiguity, reasoned determination, and climate-change policy," Journal of Environmental Economics and Management, Elsevier, vol. 81(C), pages 74-92.
  19. Sussman Fran & Weaver Christopher P. & Grambsch Anne, 2014. "Challenges in applying the paradigm of welfare economics to climate change," Journal of Benefit-Cost Analysis, De Gruyter, vol. 5(3), pages 347-376, December.
  20. Antony Millner, 2013. "On Welfare Frameworks and Catastrophic Climate Risks," CESifo Working Paper Series 4442, CESifo.
  21. Tol, Richard S.J., 2013. "Targets for global climate policy: An overview," Journal of Economic Dynamics and Control, Elsevier, vol. 37(5), pages 911-928.
  22. Odusola, Ayodele & Abidoye, Babatunde, 2015. "Effects of Temperature and Rainfall Shocks on Economic Growth in Africa," UNDP Africa Research Discussion Papers 267028, United Nations Development Programme (UNDP).
  23. Kenneth Arrow & Marcel Priebsch, 2014. "Bliss, Catastrophe, and Rational Policy," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 58(4), pages 491-509, August.
  24. Benjamin Jones & Michael Keen & Jon Strand, 2013. "Fiscal implications of climate change," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 20(1), pages 29-70, February.
  25. Ikefuji, Masako & Laeven, Roger J.A. & Magnus, Jan R. & Muris, Chris, 2015. "Expected utility and catastrophic consumption risk," Insurance: Mathematics and Economics, Elsevier, vol. 64(C), pages 306-312.
  26. Simon Dietz & Nicoleta Anca Matei, 2016. "Spaces for Agreement: A Theory of Time-Stochastic Dominance and an Application to Climate Change," Journal of the Association of Environmental and Resource Economists, University of Chicago Press, vol. 3(1), pages 85-130.
  27. Nævdal, Eric, 2015. "Catastrophes and Expected Marginal Utility – How The Value Of The Last Fish In A Lake Is Infinity And Why We Shouldn't Care (Much)," Memorandum 08/2015, Oslo University, Department of Economics.
  28. Md Mazharul Islam & Majed Alharthi & Md Wahid Murad, 2021. "The effects of carbon emissions, rainfall, temperature, inflation, population, and unemployment on economic growth in Saudi Arabia: An ARDL investigation," PLOS ONE, Public Library of Science, vol. 16(4), pages 1-21, April.
  29. Sureth Michael & Kalkuhl Matthias & Edenhofer Ottmar & Rockström Johan, 2023. "A Welfare Economic Approach to Planetary Boundaries," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 243(5), pages 477-542, October.
  30. Noy, I, 2012. "Investing in Disaster Risk Reduction: A Global Fund," Working Paper Series 18703, Victoria University of Wellington, School of Economics and Finance.
  31. Robert S. Pindyck, 2021. "What We Know and Don’t Know about Climate Change, and Implications for Policy," Environmental and Energy Policy and the Economy, University of Chicago Press, vol. 2(1), pages 4-43.
  32. Stephen C. Newbold & Charles Griffiths & Chris Moore & Ann Wolverton & Elizabeth Kopits, 2013. "A Rapid Assessment Model For Understanding The Social Cost Of Carbon," Climate Change Economics (CCE), World Scientific Publishing Co. Pte. Ltd., vol. 4(01), pages 1-40.
  33. Jesse Tack & Ardian Harri & Keith Coble, 2012. "More than Mean Effects: Modeling the Effect of Climate on the Higher Order Moments of Crop Yields," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 94(5), pages 1037-1054.
  34. In Hwang & Frédéric Reynès & Richard Tol, 2013. "Climate Policy Under Fat-Tailed Risk: An Application of Dice," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 56(3), pages 415-436, November.
  35. Quiggin, John, 2018. "The importance of ‘extremely unlikely’ events: tail risk and the costs of climate change," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 62(1), January.
  36. Cai, Yongyang & Steinbuks, Jevgenijs & Elliott, Joshua & Hertel, Thomas W., 2014. "The effect of climate and technological uncertainty in crop yields on the optimal path of global land use," Policy Research Working Paper Series 7009, The World Bank.
  37. Johnson Kakeu, 2023. "Concerns for Long-Run Risks and Natural Resource Policy," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 84(4), pages 1051-1093, April.
  38. Pindyck, Robert S., 2012. "Uncertain outcomes and climate change policy," Journal of Environmental Economics and Management, Elsevier, vol. 63(3), pages 289-303.
  39. Karp, Larry & Tsur, Yacov, 2011. "Time perspective and climate change policy," Journal of Environmental Economics and Management, Elsevier, vol. 62(1), pages 1-14, July.
  40. Bond, Craig A. & Iverson, Terrence, 2011. "Modeling Information in Environmental Decision-Making," Western Economics Forum, Western Agricultural Economics Association, vol. 10(2), pages 1-17.
  41. Buchholz Wolfgang & Heindl Peter, 2015. "Ökonomische Herausforderungen des Klimawandels," Perspektiven der Wirtschaftspolitik, De Gruyter, vol. 16(4), pages 324-350, December.
  42. Ikefuji, Masako & Laeven, Roger J.A. & Magnus, Jan R. & Muris, Chris, 2020. "Expected utility and catastrophic risk in a stochastic economy–climate model," Journal of Econometrics, Elsevier, vol. 214(1), pages 110-129.
  43. Surender Kumar & Madhu Khanna, 2019. "Temperature and production efficiency growth: empirical evidence," Climatic Change, Springer, vol. 156(1), pages 209-229, September.
  44. Xepapadeas, Anastasios & Ralli, Parthenopi & Kougea, Eva & Spyrou, Sofia & Stavropoulos, Nikolaos & Tsiaousi, Vasiliki & Tsivelikas, Athanasios, 2014. "Valuing insurance services emerging from a gene bank: The case of the Greek Gene Bank," Ecological Economics, Elsevier, vol. 97(C), pages 140-149.
  45. Antonio Estache, 2012. "What Policies to Green Infrastructure Service Delivery Entail," Working Papers ECARES ECARES 2012-013, ULB -- Universite Libre de Bruxelles.
  46. Jaeger, Carlo, 2015. "The coming breakthrough in risk research," Economics Discussion Papers 2015-65, Kiel Institute for the World Economy (IfW Kiel).
  47. Andisheh Saliminezhad & Huseyin Ozdeser & Dahiru Alhaji Bala Birnintsaba, 2022. "Environmental degradation and economic growth: time-varying and nonlinear evidence from Nigeria," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 24(5), pages 6288-6301, May.
  48. Kelly, David L. & Tan, Zhuo, 2015. "Learning and climate feedbacks: Optimal climate insurance and fat tails," Journal of Environmental Economics and Management, Elsevier, vol. 72(C), pages 98-122.
  49. David Martimort & Stéphane Straub, 2011. "How to Design Public-Private Partnerships in a Warming World? - When Infrastructure Becomes a Really “Hot” Topic," Working Papers 2011/25, Maastricht School of Management.
  50. Johanna Etner & Meglena Jeleva & Natacha Raffin, 2021. "Climate policy: How to deal with ambiguity?," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 72(1), pages 263-301, July.
  51. Noy, I, 2012. "Investing in Disaster Risk Reduction: A Global Fund," Working Paper Series 2390, Victoria University of Wellington, School of Economics and Finance.
  52. Kousky, Carolyn & Kopp, Robert E. & Cooke, Roger M., 2011. "Risk premia and the social cost of carbon: A review," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 5, pages 1-24.
  53. Ross McKitrick, 2013. "State-contingent pricing as a response to uncertainty in climate policy," Chapters, in: Roger Fouquet (ed.), Handbook on Energy and Climate Change, chapter 18, pages 415-433, Edward Elgar Publishing.
  54. In Chang Hwang, 2016. "Active learning and optimal climate policy," EcoMod2016 9611, EcoMod.
  55. Jesse Tack & Keith Coble & Barry Barnett, 2018. "Warming temperatures will likely induce higher premium rates and government outlays for the U.S. crop insurance program," Agricultural Economics, International Association of Agricultural Economists, vol. 49(5), pages 635-647, September.
  56. Hwang, In Chang, 2014. "Fat-tailed uncertainty and the learning-effect," MPRA Paper 53671, University Library of Munich, Germany.
  57. Boyarchenko, Svetlana & Levendorskii, Sergei, 2010. "Discounting when income is stochastic and climate change policies," MPRA Paper 27998, University Library of Munich, Germany.
  58. Christoph M. Rheinberger & Nicolas Treich, 2017. "Attitudes Toward Catastrophe," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 67(3), pages 609-636, July.
  59. Silvana Stefani & Gleda Kutrolli & Enrico Moretto & Sergei Kulakov, 2020. "Managing Meteorological Risk through Expected Shortfall," Risks, MDPI, vol. 8(4), pages 1-23, November.
  60. Partha Dasgupta, 2014. "Pricing climate change," Politics, Philosophy & Economics, , vol. 13(4), pages 394-416, November.
  61. Gabriel E Lade & C-Y Cynthia Lin Lawell & Aaron Smith, 2018. "Designing Climate Policy: Lessons from the Renewable Fuel Standard and the Blend Wall," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 100(2), pages 585-599.
  62. Andrea Rampa, 2020. "Climate change, catastrophes and Dismal Theorem: a critical review [Klimawandel, Katastrophen und das „Dismal Theorem“: eine kritische Überprüfung]," Review of Regional Research: Jahrbuch für Regionalwissenschaft, Springer;Gesellschaft für Regionalforschung (GfR), vol. 40(2), pages 113-136, October.
  63. Besley, Tim & Dixit, Avinash K., 2017. "Comparing Alternative Policies Against Environmental Catastrophes," CEPR Discussion Papers 11802, C.E.P.R. Discussion Papers.
  64. Jules Sadefo-Kamdem & David Akame, 2020. "Willingness To Pay Of An Expo-Power Utility Decision Maker To Limit Climate Change," Working Papers hal-02465195, HAL.
  65. Buchholz, Wolfgang & Schymura, Michael, 2012. "Expected utility theory and the tyranny of catastrophic risks," Ecological Economics, Elsevier, vol. 77(C), pages 234-239.
  66. Vale, Petterson Molina, 2016. "The changing climate of climate change economics," Ecological Economics, Elsevier, vol. 121(C), pages 12-19.
  67. Masako Ikefuji & Roger Laeven & Jan Magnus & Chris Muris, 2014. "Expected Utility and Catastrophic Risk," Tinbergen Institute Discussion Papers 14-133/III, Tinbergen Institute.
  68. Li, Weijia & Roland, Gérard & Xie, Yang, 2020. "Erosion of state power, corruption control, and political stability," BOFIT Discussion Papers 5/2020, Bank of Finland Institute for Emerging Economies (BOFIT).
  69. Lee, Sangjun & Zhao, Jinhua, 2021. "Adaptation to climate change: Extreme events versus gradual changes," Journal of Economic Dynamics and Control, Elsevier, vol. 133(C).
  70. repec:zbw:bofitp:2020_005 is not listed on IDEAS
  71. Hwang, In Chang & Tol, Richard S.J. & Hofkes, Marjan W., 2016. "Fat-tailed risk about climate change and climate policy," Energy Policy, Elsevier, vol. 89(C), pages 25-35.
  72. Arvaniti, Maria, 2016. "Uncertainty, Extreme Outcomes and Climate Change: a critique," CERE Working Papers 2016:11, CERE - the Center for Environmental and Resource Economics.
  73. In Chang Hwang & Richard S.J. Tol & Marjan W. Hofkes, 2013. "Tail-effect and the Role of Greenhouse Gas Emissions Control," Working Paper Series 6613, Department of Economics, University of Sussex Business School.
  74. Soheil Shayegh & Valerie Thomas, 2015. "Adaptive stochastic integrated assessment modeling of optimal greenhouse gas emission reductions," Climatic Change, Springer, vol. 128(1), pages 1-15, January.
  75. Nekeisha Spencer & Eric Strobl, 2020. "Hurricanes, climate change, and social welfare: evidence from the Caribbean," Climatic Change, Springer, vol. 163(1), pages 337-357, November.
  76. Hamid Mohtadi & Bryan S. Weber, 2021. "Catastrophe And Rational Policy: Case Of National Security," Economic Inquiry, Western Economic Association International, vol. 59(1), pages 140-161, January.
  77. Sajjad Ali & Li Gucheng & Liu Ying & Muhammad Ishaq & Tariq Shah, 2019. "The Relationship between Carbon Dioxide Emissions, Economic Growth and Agricultural Production in Pakistan: An Autoregressive Distributed Lag Analysis," Energies, MDPI, vol. 12(24), pages 1-23, December.
  78. Jaeger, Carlo, 2016. "The coming breakthrough in risk research," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 10, pages 1-28.
  79. Simon Dietz & Anca N. Matei, 2013. "Is there space for agreement on climate change? A non-parametric approach to policy evaluation," GRI Working Papers 136, Grantham Research Institute on Climate Change and the Environment.
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