Background Materials - Climate Change and Extreme Events


Feb. 1, 2010

Event Series


Managing Tail Risks

Background Materials

Discussion Session I: Climate Change and Extreme Events
An Overview of ‘Dangerous’ Climate Change
Stephen H. Schneider and Janica Lane

Global Warming and Hurricanes: An Overview of Current Research Results Modeled Impact of Anthropogenic Warming on the Frequency of Intense Atlantic Hurricanes Morris A. Bender, Thomas R. Knutson, Robert E. Tuleya, Joseph J. Sirutis, Gabriel A. Vecchi, Stephen T. Garner and Issac M. Held

Discussion Session II: Insuring Catastrophes
RFF Issue Brief: Encouraging Adaptation to Climate Change: Long-Term Flood Insurance Howard Kunreuther and Erwann Michel-Kerjan

Adaptation to Climate Change: Linking Disaster Risk Reduction and Insurance Koko Warner, et al.

Come Rain or Shine: Evidence on Flood Insurance Purchases in Florida Erwann Michel-Kerjan and Carolyn Kousky

Climate Change and its impact on building water damage Ola Haug, Xeni K. Dimakos, Jofrid F. Vårdal and Magna Aldrin

The Limits of Securitization on a Hot, Flat Planet: Micro-correlations, Fat Tails and Tail Dependence
Carolyn Kousky and Roger M. Cooke

Discussion Session III: Tools for Evaluating Tail Risks
RFF Discussion Paper: The Unholy Trinity: Fat Tails, Tail Dependence, and Micro-Correlations
Carolyn Kousky and Roger M. Cooke

Micro Correlations and Tail Dependence Roger M. Cook, Carolyn Kousky and Harry Joe

Estimating the Heavy Tail Index from Scaling Properties Mark E. Crovella and Murad S. Taqqu

The Devil is in the Tails: Actuarial Mathematics and the Subprime Mortgage Crisis Catherine Donnelly and Paul Embrechts

Discussion Session IV: Policy Considerations for Tail Risks
Book Review: Richard Posner's Catastrophe (Review on pp. 9-14)
Jonathan Wiener

On Modeling and Interpreting the Economics of Catastrophic Climate Change Martin L. Weitzmam

The Economic and Policy Consequences of Catastrophes Robert S. Pindyck and Neng Wang

Modeling the Impact of Warming in Climate Change Economics Robert S. Pindyck

Uncertain Outcomes and Climate Change Policy Robert S. Pindyck

Capita Selecta Papers and Other Relevant Reading

Decisions from Experience and the Effect of Rare Events in Risky Choice
Ralph Perception of Risk Posed by Extreme Events
Paul Slovic and Elke U. WeberHertwig, Greg Barron, Elke U. Weber, and Ido Erev

Climate Response Uncertainty and the Benefits of Greenhouse Gas Emissions Reductions
Stephen C. Newbold and Adam Daigneault

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