| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w23009 |
| 来源ID | Working Paper 23009 |
| Climate Change and Growth Risks | |
| Ravi Bansal; Marcelo Ochoa; Dana Kiku | |
| 发表日期 | 2017-01-02 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | To study the welfare implications of rising temperature we propose a temperature-augmented long-run risks model that accounts for the interaction between temperature, economic growth and risk. The model simultaneously matches the projected temperature path, the observed consumption growth dynamics, discount rates provided by the risk-free rate and equity market returns, and the negative elasticity of equity prices to temperature risks documented in the data. We use the calibrated model to quantify the social cost of carbon (SCC) and to frame the optimal climate policy. We show that a preference for early resolution of uncertainty and long-run impact of temperature on growth imply a significant SCC and motivate early actions to abate global warming. |
| 主题 | Macroeconomics ; Financial Economics ; Environmental and Resource Economics |
| URL | https://www.nber.org/papers/w23009 |
| 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/580682 |
| 推荐引用方式 GB/T 7714 | Ravi Bansal,Marcelo Ochoa,Dana Kiku. Climate Change and Growth Risks. 2017. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w23009.pdf（213KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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