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Global warming and extreme events: rethinking the timing and intesity of environmental policy

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Global warming and extreme events: rethinking the timing and intesity of environmental policy. / Chen, Yu-Fu; Funke, Michael.

University of Dundee, 2010. (Dundee Discussion Papers in Economics; No. 236).

Research output: Working paperDiscussion paper

Harvard

Chen, Y-F & Funke, M 2010 'Global warming and extreme events: rethinking the timing and intesity of environmental policy' Dundee Discussion Papers in Economics, no. 236, University of Dundee.

APA

Chen, Y-F., & Funke, M. (2010). Global warming and extreme events: rethinking the timing and intesity of environmental policy. (Dundee Discussion Papers in Economics; No. 236). University of Dundee.

Vancouver

Chen Y-F, Funke M. Global warming and extreme events: rethinking the timing and intesity of environmental policy. University of Dundee. 2010, (Dundee Discussion Papers in Economics; 236).

Author

Chen, Yu-Fu; Funke, Michael / Global warming and extreme events: rethinking the timing and intesity of environmental policy.

University of Dundee, 2010. (Dundee Discussion Papers in Economics; No. 236).

Research output: Working paperDiscussion paper

Bibtex - Download

@techreport{438f905b42dc4fd994b73d9fa6b791d9,
title = "Global warming and extreme events: rethinking the timing and intesity of environmental policy",
keywords = "Climate policy, Extreme events, Real options, Levy process",
author = "Yu-Fu Chen and Michael Funke",
year = "2010",
series = "Dundee Discussion Papers in Economics",
publisher = "University of Dundee",
type = "WorkingPaper <importModel: WorkingPaperImportModel>",
institution = "University of Dundee",

}

RIS (suitable for import to EndNote) - Download

TY - UNPB

T1 - Global warming and extreme events: rethinking the timing and intesity of environmental policy

AU - Chen,Yu-Fu

AU - Funke,Michael

PY - 2010

Y1 - 2010

N2 - The possibility of low-probability extreme events has reignited the debate over the optimal intensity and timing of climate policy. In this paper we therefore contribute to the literature by assessing the implications of low-probability extreme events on environmental policy in a continuous-time real options model with “tail risk”. In a nutshell, our results indicate the importance of tail risk and call for foresighted pre-emptive climate policies.

AB - The possibility of low-probability extreme events has reignited the debate over the optimal intensity and timing of climate policy. In this paper we therefore contribute to the literature by assessing the implications of low-probability extreme events on environmental policy in a continuous-time real options model with “tail risk”. In a nutshell, our results indicate the importance of tail risk and call for foresighted pre-emptive climate policies.

KW - Climate policy

KW - Extreme events

KW - Real options

KW - Levy process

M3 - Discussion paper

T3 - Dundee Discussion Papers in Economics

BT - Global warming and extreme events: rethinking the timing and intesity of environmental policy

PB - University of Dundee

ER -

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