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• W2045497911 abstract "The paper investigates a climate-economy model with an iso-elastic welfare function in which one parameter γ measures relative risk-aversion and a distinct parameter ρ measures resistance to intertemporal substitution.We show both theoretically and numerically that climate policy responds differently to variations in the two parameters. In particular, we show that higher γ but lower ρ leads to increase emissions control. We also argue that climate-economy models based on intertemporal expected utility maximization, i.e. models where γ = ρ, may misinterpret the sensitivity of the climate policy to risk-aversion." @default.
• W2045497911 created "2016-06-24" @default.
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• W2045497911 date "2004-06-01" @default.
• W2045497911 modified "2023-10-18" @default.
• W2045497911 title "Risk Aversion, Intergenerational Equity and Climate Change" @default.
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• W2045497911 doi "https://doi.org/10.1023/b:eare.0000029915.04325.25" @default.
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