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The Role of Uncertainty and Risk in Climate Change Economics

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  • V. V. Chari

Abstract

This chapter is an introductory essay to the volume Climate Change Economics: The Role of Uncertainty and Risk, edited by V. V. Chari and Robert Litterman. This volume consists of a collection of papers that were presented at \\"The Next Generation of Economic Models of Climate Change,\\" a conference hosted by the Heller-Hurwicz Economics Institute at the University of Minnesota.

Suggested Citation

  • V. V. Chari, 2018. "The Role of Uncertainty and Risk in Climate Change Economics," Staff Report 576, Federal Reserve Bank of Minneapolis.
    • Handle: RePEc:fip:fedmsr:576
    DOI: 10.21034/sr.576
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    References listed on IDEAS

    as
    1. William Nordhaus, 2018. "Evolution of modeling of the economics of global warming: changes in the DICE model, 1992–2017," Climatic Change, Springer, vol. 148(4), pages 623-640, June.
    2. Mikhail Golosov & John Hassler & Per Krusell & Aleh Tsyvinski, 2014. "Optimal Taxes on Fossil Fuel in General Equilibrium," Econometrica, Econometric Society, vol. 82(1), pages 41-88, January.
    3. Lars Peter Hansen & Thomas J Sargent, 2014. "Robust Control and Model Uncertainty," World Scientific Book Chapters, in: UNCERTAINTY WITHIN ECONOMIC MODELS, chapter 5, pages 145-154, World Scientific Publishing Co. Pte. Ltd..
    4. Martin L. Weitzman, 1974. "Prices vs. Quantities," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 41(4), pages 477-491.
    5. Stern,Nicholas, 2007. "The Economics of Climate Change," Cambridge Books, Cambridge University Press, number 9780521700801, September.
    6. Ravi Bansal & Marcelo Ochoa & Dana Kiku, 2016. "Climate Change and Growth Risks," NBER Working Papers 23009, National Bureau of Economic Research, Inc.
    7. George J. Mailath & Andrew Postlewaite, 1990. "Asymmetric Information Bargaining Problems with Many Agents," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 57(3), pages 351-367.
    8. Rob, Rafael, 1989. "Pollution claim settlements under private information," Journal of Economic Theory, Elsevier, vol. 47(2), pages 307-333, April.
    9. V.V. Chari & Larry E. Jones, 2000. "A reconsideration of the problem of social cost: Free riders and monopolists," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 16(1), pages 1-22.
    10. William D. Nordhaus, 2017. "Evolution of Assessments of the Economics of Global Warming: Changes in the DICE model, 1992 – 2017," NBER Working Papers 23319, National Bureau of Economic Research, Inc.
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    Cited by:

    1. Atsu, Francis & Adams, Samuel, 2021. "Energy consumption, finance, and climate change: Does policy uncertainty matter?," Economic Analysis and Policy, Elsevier, vol. 70(C), pages 490-501.

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    More about this item

    Keywords

    Global warming; Externalities; greenhouse gases;
    All these keywords.

    JEL classification:

    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • H41 - Public Economics - - Publicly Provided Goods - - - Public Goods

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