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数字金融Workshop： Carbon prices and forest preservation over space and time in the Brazilian Amazon
发布日期：2023-10-10 12:00 来源：
第三讲 Carbon prices and forest preservation over space and time in the Brazilian Amazon
时间：2023年10月10日周二 北京时间下午 2:00-3:30
地点/Venue：北京大学国家发展研究院承泽园校区131教室
主讲人/Speaker: Jose Scheinkman
主持人/Host：胡佳胤 Jiayin Hu
摘要/Abstract:
Some portions of land in Brazilian Amazon are forested, and other portions used in agricultural activities, principally cattle-ranching. Deforestation (reforestation) emits (captures) carbon, which has consequence for the global climate. The social and private productivities for these alternative land uses vary across locations within the Amazon region. In this research, we build and analyze a spatial/dynamic model of socially efficient land allocation to establish a benchmark for ad-hoc policies. We show how to incorporate the stochastic evolution of cattle prices, and we explore the consequences of ambiguity in the location-specific productivities on the socially efficient policy. Finally, we assess the consequences of imposing alternative social costs of carbon emissions on the spatial/dynamic allocation of land use. Our results indicate that with modest transfers per ton of net CO2 Brazil would find it optimal to choose policies that produce substantial capture of greenhouse gases in the next 30 years, suggesting that the management of tropical forests could play an important role on climate change mitigation in the near future.
Coauthors: Juliano Assuncao (Climate Policy Initiative and PUC-Rio), Lars Peter Hansen (University of Chicago) and Todd Munson (Argonne National Laboratories)
主讲人介绍/Biography:
José A. Scheinkman is the Charles and Lynn Zhang Professor of Economics at Columbia, Theodore Wells ‘29 Professor of Economics (emeritus) at Princeton, and Research Associate at NBER. During the academic year 2020-2021 he is engaged in full-time research as a Senior Research Scholar at Columbia’s economics department. Previously, Scheinkman was Alvin H. Baum Distinguished Service Professor and Chair of the Department of Economics at the University of Chicago, Blaise Pascal Research Professor (France), Visiting Professor at Collège de France, and Vice-President in the Financial Strategies Group of Goldman, Sachs.
Scheinkman is a Member of the National Academy of Sciences, Fellow of the American Academy of Arts and Sciences, Fellow of the American Finance Association, and recipient of a John Simon Guggenheim Memorial Fellowship and of a “doctorat honoris causa” from the Université Paris-Dauphine. In 2014, he was awarded the CME Group-MSRI Prize in Innovative Quantitative Applications.
Scheinkman’s current research is on Financial Economics with emphasis on Climate Finance and asset-price bubbles. He was born in Rio de Janeiro and participates actively on debates concerning economic and social policy in Brazil. He is a member of the board of directors of Cosan S.A., a Brazilian company engaged in the production and distribution of sugar, ethanol, energy and logistic services and of the Advisory Board of Stone, a Brazilian fintech listed on the Nasdaq.
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数字金融Workshop： Carbon prices and forest preservation over space and time in the Brazilian Amazon
发布日期：2023-10-10 12:00 来源：
第三讲 Carbon prices and forest preservation over space and time in the Brazilian Amazon
时间：2023年10月10日周二 北京时间下午 2:00-3:30
地点/Venue：北京大学国家发展研究院承泽园校区131教室
主讲人/Speaker: Jose Scheinkman
主持人/Host：胡佳胤 Jiayin Hu
摘要/Abstract:
Some portions of land in Brazilian Amazon are forested, and other portions used in agricultural activities, principally cattle-ranching. Deforestation (reforestation) emits (captures) carbon, which has consequence for the global climate. The social and private productivities for these alternative land uses vary across locations within the Amazon region. In this research, we build and analyze a spatial/dynamic model of socially efficient land allocation to establish a benchmark for ad-hoc policies. We show how to incorporate the stochastic evolution of cattle prices, and we explore the consequences of ambiguity in the location-specific productivities on the socially efficient policy. Finally, we assess the consequences of imposing alternative social costs of carbon emissions on the spatial/dynamic allocation of land use. Our results indicate that with modest transfers per ton of net CO2 Brazil would find it optimal to choose policies that produce substantial capture of greenhouse gases in the next 30 years, suggesting that the management of tropical forests could play an important role on climate change mitigation in the near future.
Coauthors: Juliano Assuncao (Climate Policy Initiative and PUC-Rio), Lars Peter Hansen (University of Chicago) and Todd Munson (Argonne National Laboratories)
主讲人介绍/Biography:
José A. Scheinkman is the Charles and Lynn Zhang Professor of Economics at Columbia, Theodore Wells ‘29 Professor of Economics (emeritus) at Princeton, and Research Associate at NBER. During the academic year 2020-2021 he is engaged in full-time research as a Senior Research Scholar at Columbia’s economics department. Previously, Scheinkman was Alvin H. Baum Distinguished Service Professor and Chair of the Department of Economics at the University of Chicago, Blaise Pascal Research Professor (France), Visiting Professor at Collège de France, and Vice-President in the Financial Strategies Group of Goldman, Sachs.
Scheinkman is a Member of the National Academy of Sciences, Fellow of the American Academy of Arts and Sciences, Fellow of the American Finance Association, and recipient of a John Simon Guggenheim Memorial Fellowship and of a “doctorat honoris causa” from the Université Paris-Dauphine. In 2014, he was awarded the CME Group-MSRI Prize in Innovative Quantitative Applications.
Scheinkman’s current research is on Financial Economics with emphasis on Climate Finance and asset-price bubbles. He was born in Rio de Janeiro and participates actively on debates concerning economic and social policy in Brazil. He is a member of the board of directors of Cosan S.A., a Brazilian company engaged in the production and distribution of sugar, ethanol, energy and logistic services and of the Advisory Board of Stone, a Brazilian fintech listed on the Nasdaq.
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