Lars Peter Hansen
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View article: Stochastic responses and marginal valuation
Stochastic responses and marginal valuation Open
The analysis of policy impacts in a dynamic and uncertain reality is vital to supporting informed economic policy design and implementation. Dynamic, stochastic economic models used in policy evaluation necessarily simplify the world as we…
View article: Sex-specific associations between resting heart rate trajectories and all-cause heart failure
Sex-specific associations between resting heart rate trajectories and all-cause heart failure Open
Background/Introduction Although sex differences in heart failure subtypes and risk factors are acknowledged in preventive guidelines, it is unclear if there are differences in potential prognostic markers like resting heart rate trajector…
View article: Robust inattentive discrete choice
Robust inattentive discrete choice Open
Rational inattention models characterize optimal decision-making in data-rich environments. In such environments, it can be costly to look carefully at all of the information. Some information is much more salient for the decision at hand …
View article: Emission prices, biomass, and biodiversity in tropical forests
Emission prices, biomass, and biodiversity in tropical forests Open
View article: Data and Code for: Emission Prices, Biomass, and Biodiversity in Tropical Forests
Data and Code for: Emission Prices, Biomass, and Biodiversity in Tropical Forests Open
The prudent reforestation of tropical rain forests depends on alternative land uses, the dynamics of carbon accumulation of forest trees, and the implicit social cost of emissions. In this paper, we discuss and extend recent research by As…
View article: Comparative Valuation Dynamics in Production Economies: Long-Run Uncertainty, Heterogeneity, and Market Frictions
Comparative Valuation Dynamics in Production Economies: Long-Run Uncertainty, Heterogeneity, and Market Frictions Open
We compare and contrast production economies exposed to long-run uncertainty with investors that have possibly different preferences and/or access to financial markets. We study the macroeconomic and asset-pricing properties of these model…
View article: Robust inference for moment condition models without rational expectations
Robust inference for moment condition models without rational expectations Open
Applied researchers using structural models under rational expectations (RE) often confront empirical evidence of misspecification. In this paper we consider a generic dynamic model that is posed as a vector of unconditional moment restric…
View article: Robust Inattentive Discrete Choice
Robust Inattentive Discrete Choice Open
View article: Uncertainty, Social Valuation, and Climate Change
Uncertainty, Social Valuation, and Climate Change Open
View article: Risk, ambiguity, and misspecification: Decision theory, robust control, and statistics
Risk, ambiguity, and misspecification: Decision theory, robust control, and statistics Open
Summary What are “deep uncertainties” and how should their presence influence prudent decisions? To address these questions, we bring ideas from robust control theory into statistical decision theory. Decision theory has its origins in axi…
View article: A Deep Learning Analysis of Climate Change, Innovation, and Uncertainty
A Deep Learning Analysis of Climate Change, Innovation, and Uncertainty Open
We study the implications of model uncertainty in a climate-economics framework with three types of capital: "dirty" capital that produces carbon emissions when used for production, "clean" capital that generates no emissions but is initia…
View article: Probing Catalyst Surfaces at the Atomic-scale
Probing Catalyst Surfaces at the Atomic-scale Open
Journal Article Probing Catalyst Surfaces at the Atomic-scale Get access M Ek, M Ek Topsoe A/S, Kgs. Lyngby, DenmarkCentre for Analysis and Synthesis & NanoLund, Lund University, Lund, Sweden Search for other works by this author on: Oxfor…
View article: How Should Climate Change Uncertainty Impact Social Valuation and Policy?
How Should Climate Change Uncertainty Impact Social Valuation and Policy? Open
View article: Carbon Prices and Forest Preservation Over Space and Time in the Brazilian Amazon
Carbon Prices and Forest Preservation Over Space and Time in the Brazilian Amazon Open
View article: How Should Climate Change Uncertainty Impact Social Valuation and Policy?
How Should Climate Change Uncertainty Impact Social Valuation and Policy? Open
View article: A Deep Learning Analysis of Climate Change, Innovation, and Uncertainty
A Deep Learning Analysis of Climate Change, Innovation, and Uncertainty Open
View article: Correction to: Asset pricing under smooth ambiguity in continuous time
Correction to: Asset pricing under smooth ambiguity in continuous time Open
View article: Asset pricing under smooth ambiguity in continuous time
Asset pricing under smooth ambiguity in continuous time Open
View article: Asset Pricing under Smooth Ambiguity in Continuous Time
Asset Pricing under Smooth Ambiguity in Continuous Time Open
View article: Risk, Ambiguity, and Misspecification: Decision Theory, Robust Control, and Statistics
Risk, Ambiguity, and Misspecification: Decision Theory, Robust Control, and Statistics Open
View article: Central banking challenges posed by uncertain climate change and natural disasters
Central banking challenges posed by uncertain climate change and natural disasters Open
View article: A Quartet of Semigroups for Model Specification, Robustness, Prices of Risk, and Model Detection
A Quartet of Semigroups for Model Specification, Robustness, Prices of Risk, and Model Detection Open
A representative agent fears that his model, a continuous time Markov process with jump and diffusion components, is misspecified and therefore uses robust control theory to make decisions. Under the decision maker’s approximating model, t…
View article: Uncertainty Spillovers for Markets and Policy
Uncertainty Spillovers for Markets and Policy Open
We live in a world filled with uncertainty. In this essay, I show that featuring this phenomenon more in economic analyses adds to our understanding of how financial markets work and how best to design prudent economic policy. This essay e…
View article: Climate Change Uncertainty Spillover in the Macroeconomy
Climate Change Uncertainty Spillover in the Macroeconomy Open
The design and conduct of climate change policy necessarily confronts uncertainty along multiple fronts.We explore the consequences of ambiguity over various sources and configurations of models that impact how economic opportunities could…
View article: Rational policymaking during a pandemic
Rational policymaking during a pandemic Open
Policymaking during a pandemic can be extremely challenging. As COVID-19 is a new disease and its global impacts are unprecedented, decisions are taken in a highly uncertain, complex, and rapidly changing environment. In such a context, in…
View article: Rational policymaking during a pandemic
Rational policymaking during a pandemic Open
Policymaking during a pandemic can be extremely challenging. As COVID-19 is a new disease and its global impacts are unprecedented, decisions are taken in a highly uncertain, complex, and rapidly changing environment. In such a context, in…
View article: Central Banking Challenges Posed by Uncertain Climate Change and Natural Disasters
Central Banking Challenges Posed by Uncertain Climate Change and Natural Disasters Open
View article: Climate Change Uncertainty Spillover in the Macroeconomy
Climate Change Uncertainty Spillover in the Macroeconomy Open
View article: Robust Inference for Moment Condition Models without Rational Expectations
Robust Inference for Moment Condition Models without Rational Expectations Open
View article: Climate Change Uncertainty Spillover in the Macroeconomy
Climate Change Uncertainty Spillover in the Macroeconomy Open