東華大學圖書館 |

Language: English

Help

回圖書館首頁

手機版館藏查詢

Back to Search results for [ null ]

Switch To: Labeled | MARC Mode | ISBD

A Run on Oil: Climate Policy, Strand...

Barnett, Michael Duglas.

Linked to FindBook

Google Book

Amazon

博客來

A Run on Oil: Climate Policy, Stranded Assets, and Asset Prices.

Record Type:	Electronic resources : Monograph/item
Title/Author:	A Run on Oil: Climate Policy, Stranded Assets, and Asset Prices./
Author:	Barnett, Michael Duglas.
Published:	Ann Arbor : ProQuest Dissertations & Theses, : 2019,
Description:	123 p.
Notes:	Source: Dissertations Abstracts International, Volume: 81-04, Section: B.
Contained By:	Dissertations Abstracts International81-04B.
Subject:	Finance. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=13886014
ISBN:	9781085774321

A Run on Oil: Climate Policy, Stranded Assets, and Asset Prices.
Barnett, Michael Duglas.

A Run on Oil: Climate Policy, Stranded Assets, and Asset Prices. - Ann Arbor : ProQuest Dissertations & Theses, 2019 - 123 p.

Source: Dissertations Abstracts International, Volume: 81-04, Section: B.

Thesis (Ph.D.)--The University of Chicago, 2019.

This item must not be sold to any third party vendors.

I study the dynamic implications of climate policy risk on macroeconomic outcomes and asset prices. I find that accounting for climate policy that restricts oil use and has an unknown arrival time, in an otherwise standard climate-economic model with oil extraction, generates a run on oil; meaning oil firms dynamically accelerate oil extraction as climate change increases and oil reserves decrease due to the risk of future climate policy actions stranding oil reserves. Furthermore, the risk and uncertainty of the climate policy, and the run on oil it causes, leads to a downward shift and dynamic decrease in the oil spot price and value of oil firms compared to the setting without climate policy risk. Empirical evidence based on cross-sectional and time series analysis demonstrates that the effects of climate policy risk on observable market outcomes such as oil production, stock returns, and oil prices are consistent with the predictions of the model.

ISBN: 9781085774321Subjects--Topical Terms:

542899
Finance.
Subjects--Index Terms:

Climate policy

A Run on Oil: Climate Policy, Stranded Assets, and Asset Prices.
LDR:02108nmm a2200361 4500 001 2267133
005 20200623111706.5
008 220629s2019 ||||||||||||||||| ||eng d
020 $a 9781085774321
035 $a (MiAaPQ)AAI13886014
035 $a AAI13886014
040 $a MiAaPQ $c MiAaPQ
100 1 $a Barnett, Michael Duglas. $3 3544374
245 1 0 $a A Run on Oil: Climate Policy, Stranded Assets, and Asset Prices.
260 1 $a Ann Arbor : $b ProQuest Dissertations & Theses, $c 2019
300 $a 123 p.
500 $a Source: Dissertations Abstracts International, Volume: 81-04, Section: B.
500 $a Advisor: Hansen, Lars P.;Veronesi, Pietro.
502 $a Thesis (Ph.D.)--The University of Chicago, 2019.
506 $a This item must not be sold to any third party vendors.
520 $a I study the dynamic implications of climate policy risk on macroeconomic outcomes and asset prices. I find that accounting for climate policy that restricts oil use and has an unknown arrival time, in an otherwise standard climate-economic model with oil extraction, generates a run on oil; meaning oil firms dynamically accelerate oil extraction as climate change increases and oil reserves decrease due to the risk of future climate policy actions stranding oil reserves. Furthermore, the risk and uncertainty of the climate policy, and the run on oil it causes, leads to a downward shift and dynamic decrease in the oil spot price and value of oil firms compared to the setting without climate policy risk. Empirical evidence based on cross-sectional and time series analysis demonstrates that the effects of climate policy risk on observable market outcomes such as oil production, stock returns, and oil prices are consistent with the predictions of the model.
590 $a School code: 0330.
650 4 $a Finance. $3 542899
650 4 $a Economics. $3 517137
650 4 $a Climate change. $2 bicssc $3 2079509
653 $a Climate policy
653 $a Oil prices
653 $a Production-based asset pricing
653 $a Stranded assets
690 $a 0508
690 $a 0501
690 $a 0404
710 2 $a The University of Chicago. $b Economics and Business. $3 2097303
773 0 $t Dissertations Abstracts International $g 81-04B.
790 $a 0330
791 $a Ph.D.
792 $a 2019
793 $a English
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=13886014