Climate tipping and economic growth: precautionary capital and the price of carbon
The optimal reaction to a climate tipping point which becomes more imminent with global warming is to be precautionary in accumulating additional capital to curb the adverse effects of the calamity and to price carbon to make catastrophic change less imminent. However, if the mean lag for impact of...
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| Médium: | Working paper |
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University of Oxford
2013
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