Sehr geehrte Damen und Herren,
wir laden Sie herzlich zum online VOSTA Freitagsseminar mit Gernot Wagner,
New York University, mit dem Titel "Carbon Prices, Preferences, and the Timing of Uncertainty" ein.
Termin:
Freitag, 14. Jänner 2022 um 13.00 Uhr
Webex Link:
https://oenb.webex.com/oenb/onstage/g.php?MTID=e1dbf25a8239582d667073731875c6ab0
Abstract:
Uncertainty is a persistent feature of climate economics. Two prominent recent manifestations are an emphasis on tail risks and on Epstein-Zin (EZ) preferences.
We explore both numerically in the DICE model and find that neither escapes decades-old discounting debates. The greater are climate sensitivity tail risks, the longer it takes to reach equilibrium temperatures, bringing discounting back to the fore. Similarly,
our numerical EZ explorations show the importance of the elasticity of intertemporal substitution relative to risk aversion, pointing back to the crucial role of normative judgments around discounting far-distant futures. There appears to be no escaping economics’
philosophical roots.
Um Ihre verlässliche
An- bzw. Abmeldung ersuchen wir bis
Donnerstag, 13. Jänner 2022, unter
event-management@oenb.at.
Mit freundlichen Grüßen
Event-Management
