Publications

January 23, 2015

Technological Uncertainty in Meeting Europe’s Decarbonisation Goals

In response to the challenge of managing the risks of a changing climate, there is no single optimal transition path for energy technology due to uncertainty in several dimensions.

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December 4, 2014

The social discount rate under a stochastic A2 scenario

Using a general equilibrium model in which both capital productivity and temperature are uncertain, we show that the social discount rate (SDR) will decline.

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September 5, 2013

Optimal Discount Rates for Investments in Mitigation and Adaptation

This paper develops a theory of asset pricing in which discount rates for investments in all assets, including adaptation and mitigation, are endogenously determined.

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October 25, 2012

Innovation policy for directing technical change in the power sector

This paper discusses policy instruments for redirecting technical change within the electricity sector to mitigate climate change.

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