Climate-related risks are due to increase in coming years and can pose serious threats to financial stability. This paper, by means of a DSGE model including heterogeneous firms and banks, financial frictions and prudential regulation, first shows the need of climate-related capital requirements...

Climate-related risks are due to increase in coming years and can pose serious threats to financial stability. This paper, by means of a DSGE model including heterogeneous firms and banks, financial frictions and prudential regulation, first shows the need of climate-related capital requirements...

We estimate a bilateral gravity equation for emigration rates controlling for decadal weather averages of temperature, precipitation, droughts, and extreme precipitation in origin countries. Using the parameter estimates of the gravity equation, we estimate global, regional, and...