Narrow search
Showing 1 - 10 of 1,002
Cover Image
Euro Area Banks' Sensitivity to Changes in Carbon Price
Belloni, Marco; Kuik, Friderike; Mingarelli, Luca - 2022
In recent years there has been growing attention on the risks posed by climate change. One relevant question for financial stability is to which extent the materialisation of transition risks emerging from the sudden implementation of climate change mitigation policies would impact the...
Persistent link: https://www.econbiz.de/10013297413
Cover Image
The Impact of Extreme Weather Events on Budget Balances and Implications for Fiscal Policy
Lis, Eliza M. - 2009
This paper explores implications of climate change for fiscal policy by assessing the impact of large scale extreme weather events on changes in public budgets. We apply alternative measures for large scale extreme weather events and conclude that the budgetary impact of such events ranges...
Persistent link: https://www.econbiz.de/10013159926
Cover Image
The Double Materiality of Climate Physical and Transition Risks in the Euro Area
Gourdel, Régis; Monasterolo, Irene; Dunz, Nepomuk; … - 2022
The analysis of the conditions under which, and extent to which climate-adjusted financial risk assessment affects firms’ investment decisions in the low-carbon transition, and the realisation of the climate mitigation trajectories, still represent a knowledge gap. Filling this gap is crucial...
Persistent link: https://www.econbiz.de/10014083633
Cover Image
Transition Versus Physical Climate Risk Pricing in European Financial Markets : A Text-Based Approach
Bua, Giovanna; Kapp, Daniel; Ramella, Federico; … - 2022
We examine the existence of physical and transition climate risk premia in euro areaequity markets. To do so, we develop two novel physical and transition risk indicators, basedon text analysis, which are then used to gauge the presence of climate risk premia. Resultssuggest that climate risk...
Persistent link: https://www.econbiz.de/10013404918
Cover Image
Benefits and Costs of the ETS in the EU, a Lesson Learned for the CBAM Design
Böning, Justus; Di Nino, Virginia; Folger, Till - 2023
The EU is revising its emissions trading system (ETS) and plans to impose a carbon border adjustment mechanism (CBAM) on imports. We evaluate the efficacy of the ETS retrospectively and its anti-competitive effects. We find that the ETS contributed to cut greenhouse gas (GHG) emissions in the...
Persistent link: https://www.econbiz.de/10014263037
Cover Image
The Euro Area Sovereign Debt Crisis : Safe Haven, Credit Rating Agencies and the Spread of the Fever from Greece, Ireland and Portugal
De Santis, Roberto A. - 2012
from Greece. Specifically, higher risk aversion has increased the demand for the Bund and this is behind the pricing of all … key role in the developments of the spreads for Greece, Ireland, Portugal and Spain. Finally, the rating downgrade in … Greece has contributed to developments in spreads of countries with weaker fiscal fundamentals: Ireland, Portugal, Italy …
Persistent link: https://www.econbiz.de/10013111942
Cover Image
The impact of extreme weather events on budget balances and implications for fiscal policy
Lis, Eliza M.; Nickel, Christiane - 2009
This paper explores implications of climate change for fiscal policy by assessing the impact of large scale extreme weather events on changes in public budgets. We apply alternative measures for large scale extreme weather events and conclude that the budgetary impact of such events ranges...
Persistent link: https://www.econbiz.de/10011605101
Cover Image
Finance and Carbon Emissions
De Haas, Ralph - 2019
We study the relation between the structure of financial systems and carbon emissions in a large panel of countries and industries over the period 1990-2013. We find that for given levels of economic and financial development and environmental regulation, CO2 emissions per capita are lower in...
Persistent link: https://www.econbiz.de/10012862199
Cover Image
No Country is an Island : International Cooperation and Climate Change
Ferrari, Massimo Minesso; Pagliari, Maria Sole - 2021
In this paper we explore the cross-country implications of climate-related mitigation policies. Specifically, we set up a two-country, two-sector (brown vs green) DSGE model with negative production externalities stemming from carbon-dioxide emissions. We estimate the model using US and euro...
Persistent link: https://www.econbiz.de/10013222709
Cover Image
LSIs’ Exposures to Climate Change Related Risks : An Approach to Assess Physical Risks
Pagliari, Maria Sole - 2021
This paper proposes an approach to estimate the impact of adverse climatic events on the profitability of small European banks (LSIs). By considering river flooding phenomena, we construct a unique database matching the information on location, frequency and severity of floods with the location...
Persistent link: https://www.econbiz.de/10013243801