Moreover, it has been pointed out that if climate change is not addressed, humanity will face unprecedented circumstances, and the negative economic impact may increase in a nonlinear fashion; however quantitative analysis of this is fraught with difficulties. The second difference concerns the time horizon of the risk analysis.
Of course, in India recent  2  BIS Review 65/2006  events in equity markets are not easily explicable and so we can appreciate the comment that equity markets have a mind of their own. As a group, the central bankers could take some credit for little explicit indexation in recent periods. However, the Indian conditions on indexations are worth noting.