Produits dérivés météorologiques et environnement.Report as inadecuate

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1 Department of Statistics 2 HEC Paris - Recherche - Hors Laboratoire

Abstract : Managing climatic risks is one of the major concerns for most economic actors. This PhD dissertation considers two different points of view: that of firms using derivatives to hedge their weather risk and that of States adopting an environmental policy. These questions are both considered via financial theory. After a general presentation of weather derivatives, we price and design a weather bond, taking into account its specific logic lying between finance and insurance. After an econometric study of temperature data, we compare different temperature models by pricing a theoretical contract. Then, after a presentation of the dramatic evolution of the Earth Climate, we focus on the question of optimal timing for a country, behaving strategically or not, to adopt an environmental policy and consider the problem of choosing discount rates.

Résumé : Présentation de produits dérivés climatiques. Structure optimale d-un -weather bond-. Etudes économétriques de données de température. Evaluation d-une option climatique par simulation. Prise de conscience de problèmes environnementaux. Environnement : prise de décision optimale dans un contexte stratégique.

Mots-clés : Environnement produit dérivé problème environnemental

Author: Pauline Barrieu -



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