| 来源类型 | FEEM working papers "Note di lavoro" series
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| 规范类型 | 论文
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| Sharing of Climate Risks across World Regions |
| Johannes Emmerling
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| 发表日期 | 2014
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| 出处 | Climate Change and Sustainable Development
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| 出版年 | 2014
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| 语种 | 英语
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| 摘要 | Uncertainty is prevalent in the context of climate change impacts. Moreover, the distribution across the globe is not uniform. We analyze how climate risks could be reduced via an insurance scheme at the global scale across regions and quantify the potential welfare gains from such a scheme. Starting from the standard welfare analysis in Integrated Assessment Models (IAMs), which assumes no risk sharing across region, we introduce global risk sharing via a market for state-dependent Arrow-Debreu securities. We show that this allows equalizing relative consumption differences between states of the world across regions. We estimate that such risk sharing scheme of climate risks could lead to welfare gains reducing the global costs of climate change by up to one third, while the amount of transfers required is substantial. This provides arguments for considering risk sharing in IAMs, but also for potentially welfare increasing negotiations about sharing risks of climate change at the global level.
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Suggested citation: Emmerling, J., (2014), 'Sharing of Climate Risks across World Regions', Nota di Lavoro 78.2014, Milan, Italy: Fondazione Eni Enrico Mattei. |
| 特色分类 | Q54;D81;D63
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| 关键词 | Uncertainty
Risk Sharing
Insurance
Climate Change
Risk Aversion
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| URL | https://www.feem.it/en/publications/feem-working-papers-note-di-lavoro-series/sharing-of-climate-risks-across-world-regions/
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| 来源智库 | Fondazione Eni Enrico Mattei (Italy)
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| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/118317
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推荐引用方式
GB/T 7714 |
Johannes Emmerling. Sharing of Climate Risks across World Regions. 2014.
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