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Climate Change Mitigation : How Effective is Green Quantitative Easing?
Abiry, Raphael; Ferdinandusse, M.; Ludwig, Alexander; … - 2022
We develop a two-sector incomplete markets integrated assessment model to analyze the effectiveness of green quantitative easing (QE) in complementing fiscal policies for climate change mitigation. We model green QE through an outstanding stock of private assets held by a monetary authority and...
Persistent link: https://www.econbiz.de/10014078974
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The Low-Carbon Transition, Climate Commitments and Firm Credit Risk
Carbone, Sante; Giuzio, Margherita; Kapadia, Sujit; … - 2021
This paper explores how the need to transition to a low-carbon economy influences firm credit risk. It develops a novel … forward-looking emission reduction targets, thereby providing a rich picture of firms’ climate-related transition risk … firms’ credit risk: credit ratings and the market-implied distance-to-default. High emissions tend to be associated with …
Persistent link: https://www.econbiz.de/10013310278
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Non-Banks Contagion and the Uneven Mitigation of Climate Risk
Gourdel, Régis; Sydow, Matthias - 2022
This paper develops a framework for the short-term modelling of market risk and shock propagation in the investment … in particular climate risk, with a first-of-its-kind dual view of transition and physical climate risk exposures at the … fund level. So far, while fund managers communicate more aggressively on their awareness of climate risk, it is still …
Persistent link: https://www.econbiz.de/10014237690
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Does Gender Diversity in the Workplace Mitigate Climate Change?
Altunbas, Yener; Gambacorta, Leonardo; Reghezza, Alessio; … - 2022
We match firm-corporate governance characteristics with firm-level carbon dioxide (CO2) emissions over the period 2009-2019 to study the relationship between gender diversity in the workplace and firm carbon emissions. We find that a 1 percentage point increase in the percentage of female...
Persistent link: https://www.econbiz.de/10013298602
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Euro Area Banks' Sensitivity to Changes in Carbon Price
Belloni, Marco; Kuik, Friderike; Mingarelli, Luca - 2022
price on the European banking system. We assess this climate change transition risk through a banking sector contagion model …
Persistent link: https://www.econbiz.de/10013297413
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LSIs’ Exposures to Climate Change Related Risks : An Approach to Assess Physical Risks
Pagliari, Maria Sole - 2021
and high flooding risk and test for the “core lending channel” hypothesis, whereby lending to the real economy is a …
Persistent link: https://www.econbiz.de/10013243801
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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
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The Climate and the Economy
Breckenfelder, Johannes; Maćkowiak, Bartosz; … - 2023
Climate change and the public policies to arrest it are and will continue reshaping the global economy. This Discussion Paper draws on economic research to identify some key medium- and long-run economic implications of these developments. It explores implications for growth, innovation,...
Persistent link: https://www.econbiz.de/10014256842
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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
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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