Search results for "jel:Q54"
showing 4 items of 4 documents
Model Based Monte Carlo Pricing of Energy and Temperature Quanto Options
2010
Weather derivatives have become very popular tools in weather risk management in recent years. One of the elements supporting their diffusion has been the increase in volatility observed on many energy markets. Among the several available contracts, Quanto options are now becoming very popular for a simple reason: they take into account the strong correlation between energy consumption and certain weather conditions, so enabling price and weather risk to be controlled at the same time. These products are more efficient and, in many cases, significantly cheaper than simpler plain vanilla options. Unfortunately, the specific features of energy and weather time series do not enable the use of …
A general equilibrium analysis of climate change impacts on tourism
2006
This paper studies the economic implications of climate-change-induced variations in tourism demand, using a world CGE model. The model is first re-calibrated at some future years, obtaining hypothetical benchmark equilibria, which are subsequently perturbed by shocks, simulating the effects of climate change. We portray the impact of climate change on tourism by means of two sets of shocks, occurring simultaneously. The first set of shocks translate predicted variations in tourist flows into changes of consumption preferences for domestically produced goods. The second set reallocate income across world regions, simulating the effect of higher or lower tourists' expenditure. Our analysis h…
Cambio climático y sustentabilidad económica y social: implicaciones sobre el bienestar social
2008
This article puts forward an explanation of climate change within the context of global change. Climate change can be seen as the spearhead; as a manifestation of the increasing unsustainability of planet Earth. We consider some of the effects of this change, examining its uneven impact on developed and under-developed countries. We then put forward various proposals of how to deal with climate change, highlighting Socolow’s theory in particular. Lastly, we move on to the debate raised by climate change, its impact and possible strategic steps to remedy the situation within the context of environmental sustainability. This will probably lead to a new economic, social and environmental parad…
An Analytic Hierarchy Process for The Evaluation of Transport Policies to Reduce Climate Change Impacts
2007
Transport is the sector with the fastest growth of greenhouse gases emissions, both in developed and in developing countries, leading to adverse climate change impacts. As the experts disagree on the occurrence of these impacts, by applying the analytic hierarchy process (AHP), we have faced the question on how to form transport policies when the experts have different opinions and beliefs. The opinions of experts have been investigated by a means of a survey questionnaire. The results show that tax schemes aiming at promoting environmental-friendly transport mode are the best policy. This incentives public and environmental-friendly transport modes, such as car sharing and car pooling.