Climate change poses severe systemic risks to the financial sector through multiple transmission channels. In this paper, we estimate the potential impact of different carbon taxes (€50, €100, €200 and €800 per ton of CO2) on the Italian banks’ default rates at the sector level in the...

We perform a cost-benefit analysis of the green investments contained in the Italian National Recovery and Resilience Plan (NRRP). We compute the future discounted benefits in terms of expected emission reductions using various estimates of the Social Cost of Carbon, and compare them with the...

We estimate the effect of weather shocks on yield of corn, durum wheat, and grapevine using two-way fixed effect models on Italian province-level panel data at the annual frequency. Our estimates reveal substantial non-linearity in the effect of temperature on agricultural yields, in line with...

Increasing temperatures and snow-scarce winter seasons challenge the winter tourism industry, one of the most weather-sensitive economic sectors. In this paper we assemble a novel dataset matching weather conditions and tourism flows in a sample of 39 Italian ski resorts in the last 20 years. We...

Investment in adaptation is a critical strategy to reduce the damages from climate change, yet there is limited evidence about its effectiveness and costs. We exploit the activation of a sea wall to protect the city of Venice from increasingly high tides to provide new evidence on the...

The paper analyses the main differences in the financial structure of Italian and European non financial corporations in the 2004-2007 period, that is during the years before the financial crisis. The research is based on individual balance sheets of Amadeus (Analyse Major Databases from...