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Expecting the Unexpected: Emissions Uncertainty and Environmental Market Design
Emissions Uncertainty Environmental Market Design
2015/7/31
We analyze the demand for emissions allowances and the supply of
allowances and abatement opportunities in California's 2013-2020
cap and trade market for greenhouse gases (GHG). We estimate
a coin...
Fluctuations in Uncertainty.
Measuring Economic Policy Uncertainty
economic uncertainty policy uncertainty business cycles
2015/7/15
We develop a new index of economic policy uncertainty (EPU) based on newspaper coverage. Our index spikes near tight presidential elections, after both Gulf wars, the 9/11 attacks, and during governme...
The framework of this paper is that of uncertainty, that is when no reference probability measure is given. To every convex regular risk measure $\rho$ on ${\cal C}_b(\Omega)$, we associate a canonica...