Karl Löfgren

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Using climate change as a prototype motivating example, this paper analyzes the implications of structural uncertainty for the economics of low-probability high-impact catastrophes. The paper shows that having an uncertain multiplicative parameter, which scales or ampli…es exogenous shocks and is updated by Bayesian learning, induces a critical “tail(More)
This paper is concerned with the choice of metrics for social cost-benefit analysis and dynamic welfare comparisons. We show that behind the intertemporal welfare maximization in a utilitarian framework, there is always a money wealth measure that can serve as a substitute for the maximized utility wealth. Thus, under the non-arbitrage course of discount(More)
Recently, much research has been devoted to the question of how the conventional net national product measure should be augmented so as to cover changes in the stocks of natural resources. This paper investigates the treatment of health (capital) and the risk of 'doomsday' caused by pollution in such welfare measures. Our problem is not a standard optimal(More)
This article examines policy activity surrounding the implementation of privacy regulations in three European countries, Denmark, Sweden and the UK, following the ratification of the 1995 European Union Directive on Data Protection. It highlights the convergence and divergence of policy embedded in the policy transfer process and stresses not only the(More)
This article analyzes the current processes of integrating different governmental on-line information and service delivery initiatives which go toward providing single entry points for citizens and businesses. Based on notions of 24/7 Agency, Gateways, Single-windows, One-stop-shops, Supersites, and Joined-up government, the underlying vision is to make(More)
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