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We explore the design of climate stress tests to assess and manage macro-prudential risks from climate change in the financial sector. We review the climate stress scenarios currently employed by regulators, highlighting the need to (i) consider many transition risks as dynamic policy choices;...
Persistent link: https://www.econbiz.de/10014358374
The paper considers a climate change growth model with three R&D sectors dedicated to energy, backstop and CCS (Carbon …
Persistent link: https://www.econbiz.de/10010266000
sector, endogenous fertility, directed technical change and fossil/renewable energy. We estimate the world economy is more …
Persistent link: https://www.econbiz.de/10012179785
interventions on final-use energy consumption, an important driver of carbon emissions. In the model, energy demand is driven by … directed technical change. Energy supply is subject to increasing extraction costs. The model is consistent with aggregate … evidence on energy use, efficiency, and prices in the United States, as well as the standard balanced growth facts. I use the …
Persistent link: https://www.econbiz.de/10013177614
regressions, controlling for macroeconomic factors such as economic development, GDP growth, urbanisation, as well as the energy …
Persistent link: https://www.econbiz.de/10012799647
(China, India, Russia, Brazil) on the other. …
Persistent link: https://www.econbiz.de/10010264483
low wage rapidly growing countries in the BRIC group (Brazil, Russia, India, China) and the groups of countries as a sub …
Persistent link: https://www.econbiz.de/10010266044
scenario of the type discussed by many observers, would only briefly raise monthly headline inflation, before fading rather …, headline PCE inflation would increase by 1.8 percentage points at the end of 2021 under this scenario, and by 0.4 percentage … expectations under the scenario. The peak response of the 1-year household inflation expectation would be 1.2 percentage points …
Persistent link: https://www.econbiz.de/10012799755
We develop a spatial model of energy exploitation where energy sources are differentiated by their geographic location … and energy density. The spatial setting creates a scaling law that magnifies the importance of differences across energy … plays must first boom and then bust. For both renewable and non-renewable energy sources we link the size of exploitation …
Persistent link: https://www.econbiz.de/10010292712
development, characterized by the role of fossil fuels and by the progressive dominance of those with a higher energy and density … countries, compatible with the sustainability of the processes concerning the Earth system. Mainly by focusing on the energy …
Persistent link: https://www.econbiz.de/10010328858