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This paper develops a framework for the short-term modelling of market risk and shock propagation in the investment funds sector, including bi-layer contagion effects through funds' cross-holdings and overlapping exposures. Our work tackles in particular climate risk, with a first-of-its-kind...
Persistent link: https://www.econbiz.de/10013484885
Persistent link: https://www.econbiz.de/10012499498
This paper studies how a climate shock is transmitted through the financial system. Our empirical strategy combines data on climate and banking with El Niño, a natural experiment producing quasi-random variation in US climate. El Niño generates heterogeneous changes in lending across counties,...
Persistent link: https://www.econbiz.de/10014236172
We examine the impact of the U.S. withdrawal from the Paris Agreement on the relationship between climate risk and systemic risk of U.S. global banks. We find that after 2017, investors stopped pricing climate risk into U.S. systemic risk directly, consistent with domestic investors expecting...
Persistent link: https://www.econbiz.de/10014354192
This paper develops a framework for the short-term modelling of market risk and shock propagation in the investment funds sector, including bi-layer contagion effects through funds’ cross-holdings and overlapping exposures. Our work tackles in particular climate risk, with a first-of-its-kind...
Persistent link: https://www.econbiz.de/10014237690
Persistent link: https://www.econbiz.de/10011717290
Persistent link: https://www.econbiz.de/10012429733
Corruption reflects a set of illegal activities that jeopardize the smooth functioning of economies, society, and … climate and environmental issues. This article tests the relationships between economic growth, corruption, renewable energies …. The variables of corruption, economic growth, renewable energies, international trade, and carbon dioxide emissions are …
Persistent link: https://www.econbiz.de/10012505236
among countries that strongly increased their NDC targets, while perceived deterioration in corruption control negatively … impacted the amount of climate finance received by the same group of countries. Therefore, governments should reduce corruption …
Persistent link: https://www.econbiz.de/10014497018
Persistent link: https://www.econbiz.de/10011444938