Browsing by Subject "D80"

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Browsing by Subject "D80"

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    Title: Policy Uncertainty and Investment in Low-Carbon Technology  Author(s): ALBRIZIO, Silvia; COSTA, Hélia Date: 2012 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: In the context of an emission trading scheme (ETS), we study how uncertainty over the environmental policy affectsfirms' investment in low-carbon technologies. We develop a three period sequential model that combines the ...
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    Title: Risk-Sharing and Retrading in Incomplete Markets  Author(s): GOTTARDI, Piero; RAHI, Rohit Date: 2012 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: At a competitive equilibrium of an incomplete-markets economy agents’ marginal valuations for the tradable assets are equalized ex-ante. We characterize the finest partition of the state space conditional on which this ...
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    Title: Value of Information in Competitive Economies with Incomplete Markets  Author(s): GOTTARDI, Piero; RAHI, Rohit Date: 2010 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: We study the value of information in a competitive economy in which agents trade in asset markets to reallocate risk. We characterize the kinds of information that allow a welfare improvement when portfolios can be freely ...