Climate tipping and econimic growth: precautionary capital and the price of carbon
The optimal reaction to a climate tipping point that becomes more imminent with global warming is to be precautionary in adjusting capital to prepare for the calamity and to price carbon to make catastrophic change less imminent. The saving response can be positive or negative. If the mean lag for t...
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| Médium: | Journal article |
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Oxford University Press
2017
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