| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w19146 |
| 来源ID | Working Paper 19146 |
| Asset Pricing Implications of Macroeconomic Interventions An Application to Climate Policy | |
| Rajnish Mehra | |
| 发表日期 | 2013-06-20 |
| 出版年 | 2013 |
| 语种 | 英语 |
| 摘要 | This paper illustrates that evaluating alternate abatement polices that affect the growth path of an economy on the basis of their effects on asset valuation may not be welfare enhancing. We show that the class of abatement polices considered in the integrated assessment literature are robust with respect to the choice of a discount factor if lifetime consumption equivalents are used as a metric. We argue against a global welfare function in the presence of significant global household heterogeneity. While economic analysis is a useful tool for evaluating different policies for a homogenous class of households, inter household comparisons are an ethical issue. |
| 主题 | Macroeconomics ; Money and Interest Rates ; Fiscal Policy ; Financial Economics ; Portfolio Selection and Asset Pricing ; Corporate Finance ; Public Economics ; Development and Growth ; Development ; Environmental and Resource Economics ; Environment |
| URL | https://www.nber.org/papers/w19146 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/576820 |
| 推荐引用方式 GB/T 7714 | Rajnish Mehra. Asset Pricing Implications of Macroeconomic Interventions An Application to Climate Policy. 2013. |
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