- European Central Bank publications
Optimal timing of environmental policy under partial information
Number | 180 |
Date | Janvier 2024 |
Author | Pablo Garcia |
Résumé | Abstract. I explore the optimal timing of environmental policy when the stock of natural capital is unobserved and can only be imperfectly measured. I present two key insights. First, noisy signals about the natural capital stock blur the inference process, thereby easing the conditions under which policy adoption becomes optimal. Second, the interaction be tween natural capital stock volatility and the inference process gives rise to new effects that |
Download | Working paper 180 (pdf, 601 KByte) |