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Full-Text Articles in Behavioral Economics
The Economics Of Adaptation To Climate Change In Coasts And Oceans: Literature Review, Policy Implications And Research Agenda, Charles S. Colgan
The Economics Of Adaptation To Climate Change In Coasts And Oceans: Literature Review, Policy Implications And Research Agenda, Charles S. Colgan
Journal of Ocean and Coastal Economics
Sea level rise and other effects of climate change on oceans and coasts around the world are major reasons to halt the emissions of greenhouse gases to the maximum extent. But historical emissions and sea level rise have already begun so steps to adapt to a world where shorelines, coastal populations, and economies could be dramatically altered are now essential. This presents significant economic challenges in four areas. (1) Large expenditures for adaptation steps may be required but the extent of sea level rise and thus the expenditures are unknowable at this point. Traditional methods for comparing benefits and costs …
Moral Hazard And Mispriced Systemic Risk In The Lead-Up To The 2007 Subprime Mortgage Crisis In The United States, Georgi Rusinov
Moral Hazard And Mispriced Systemic Risk In The Lead-Up To The 2007 Subprime Mortgage Crisis In The United States, Georgi Rusinov
Undergraduate Economic Review
The 2007 subprime crisis was caused by high demand for subprime mortgage products underpinned by the unrealistic assumption that property prices would keep rising indefinitely. The subprime mortgage market worked as expected as long as prices were rising and demand for property was high. When these two conditions were violated and the housing bubble collapsed, the system became dysfunctional, many subprime borrowers defaulted, and mortgage-backed securities lost much of their value. Prevention could have been achieved through regulatory measures to shift the risk back from taxpayers and investors to loan originators. Fair distribution of risk should be the main objective …