Oslo joint seminar in atmospheric, ocean and climate science, Oct. 24
Title: ACE -- Analytic Climate Economy (with Temperature and Uncertainty)
Speaker: Christian Träger, UiO (Dept. of Econ.)
Christian Träger, UiO
The Analytic Climate Economy (ACE) closes a gap between analytic climate change assessments and quantitative numeric integrated assessment models (IAMs) used in policy advising. Its closed-form solution links IAM components and parametric assumptions directly to their policy impacts. Its analytic nature overcomes Bellman's curse of dimensionality for a wide range of stochastic processes. ACE shows that uncertainty flips the main drivers of the carbon tax. Uncertainty also makes IAMs even more sensitive to the discount rate and its composition. Under a recent survey's median estimate for pure time preference, uncertainty almost triples the optimal tax.
What is the Joint Oslo Seminar (JOS):
Atmospheric and climate sciences have a stronghold in Oslo among the four institutions University of Oslo, the Meteorological Institute, CICERO and NILU. This joint seminar invites renowned international experts to contribute to an informal series of lectures, meant to create interaction with the Oslo atmospheric and climate science community on recent highlights and analysis in the field. All seminars will be held on Thursdays (Noon -1pm) and lunch (sandwiches) will be served on a “first-come-first-served”-basis.