气候变化领域集成服务门户(CCPortal): ASSET DIVERSIFICATION VERSUS CLIMATE ACTION

CCPortal

DOI	10.1111/iere.12691
	ASSET DIVERSIFICATION VERSUS CLIMATE ACTION
	Hambel, Christoph; Kraft, Holger; van der Ploeg, Frederick
发表日期	2024
ISSN	0020-6598
EISSN	1468-2354
英文摘要	Asset pricing and climate policy are analyzed in a global economy where consumption goods are produced by both a green and a carbon-intensive sector. Given that the economy is initially heavily dependent on carbon-intensive capital, the desire to diversify assets complements the attempt to mitigate economic damages from climate change. In the longer run, however, a trade-off between diversification and climate action emerges. We derive the optimal carbon price and the equilibrium risk-free rate, and risk premia. Climate disasters significantly decrease the risk-free rate but increase risk premia on financial assets, especially if no climate policy is implemented.
语种	英语
WOS研究方向	Business & Economics
WOS类目	Economics
WOS记录号	WOS:001178715000001
来源期刊	INTERNATIONAL ECONOMIC REVIEW
文献类型	期刊论文
条目标识符	http://gcip.llas.ac.cn/handle/2XKMVOVA/289803
作者单位	Tilburg University; Goethe University Frankfurt; University of Oxford; Tilburg University
推荐引用方式 GB/T 7714	Hambel, Christoph,Kraft, Holger,van der Ploeg, Frederick. ASSET DIVERSIFICATION VERSUS CLIMATE ACTION[J],2024.
APA	Hambel, Christoph,Kraft, Holger,&van der Ploeg, Frederick.(2024).ASSET DIVERSIFICATION VERSUS CLIMATE ACTION.INTERNATIONAL ECONOMIC REVIEW.
MLA	Hambel, Christoph,et al."ASSET DIVERSIFICATION VERSUS CLIMATE ACTION".INTERNATIONAL ECONOMIC REVIEW (2024).