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From Extreme Events to Extreme Seasons: Financial Stability Risks of Climate Change in Mexico
Dolk, Michaela - 2023
This paper explores the financial stability implications of acute physical climate change risks using a novel approach that focuses on a severe season associated with a sequence of tropical cyclone and flood events. Our approach was recently applied to study physical risks in the Mexican...
Persistent link: https://www.econbiz.de/10015059150
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Estimating Macro-Fiscal Effects of Climate Shocks From Billions of Geospatial Weather Observations
Akyapi, Berkay - 2022
A growing literature estimates the macroeconomic effect of weather using variations in annual country-level averages of … frequency or higher spatial resolution. To address this issue, we rely on global daily weather measurements with a 30-km spatial … resolution from 1979 to 2019 and construct 164 weather variables and their lags. We select a parsimonious subset of relevant …
Persistent link: https://www.econbiz.de/10015060207
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Weathering Tomorrow: Climate Analogues and Adaptation Gaps in Europe
Fouejieu, Armand - 2024
adaption strategies in EMEs/LICs is likely to be constrained by limited domestic financial resources, weaker institutional …
Persistent link: https://www.econbiz.de/10015058381
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Fiscal Impacts of Climate Disasters in Emerging Markets and Developing Economies
Fuje, Habtamu - 2023
comprehensive ground and satellite disaster indicators spanning the past three decades across 164 countries. Across EMDEs, where … to a disaster, fiscal expenditure does not increase following a drought. A storm drags output growth in EMDEs, albeit … EMDEs, international support for disaster preparedness and climate change adaptation play a crucial role for these countries …
Persistent link: https://www.econbiz.de/10015058849
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The Macroeconomic Returns of Investment in Resilience to Natural Disasters under Climate Change: A DSGE Approach
Corugedo, Emilio Fernández - 2023
This paper presents a Markov switching dynamic stochastic general equilibrium model designed to evaluate the macroeconomic return of adaptation investment to natural disasters (NDs) and the impact of climate change. While the model follows the existing literature in assuming that NDs destroy a...
Persistent link: https://www.econbiz.de/10015059361
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Global Economic Impacts of Physical Climate Risks
Lepore, Caterina - 2023
This paper evaluates the global economic consequences of physical climate risks under two Shared Socioeconomic Pathways (SSP 1-2.6 and SSP 2-4.5) using firm-level evidence. Firstly, we estimate the historical sectoral productivity changes from chronic climate risks (gradual changes in...
Persistent link: https://www.econbiz.de/10015059092
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Decomposing Climate Risks in Stock Markets
Yang, Yuanchen - 2023
Climate change poses an unprecedented challenge to the world economy and the global financial system. This paper sets out to understand and quantify the impact of climate mitigation, with a focus on climate-related news, which represents an important information source that investors use to...
Persistent link: https://www.econbiz.de/10015059379
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Bank Stress Testing of Physical Risks under Climate Change Macro Scenarios: Typhoon Risks to the Philippines
Hallegatte, Stephane - 2022
Bank stress tests of climate change risks are relatively new, but are rapidly proliferating. The IMF and World Bank staff collaborated to develop an experimental macro scenario stress testing approach to examine physical risks for banks by building a dynamic stochastic general equilibrium model...
Persistent link: https://www.econbiz.de/10015060165
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This Is Going to Hurt: Weather Anomalies, Supply Chain Pressures and Inflation
Cevik, Serhan - 2024
As climate change accelerates, the frequency and severity of extreme weather events are expected to worsen and have … investigates how weather anomalies affect global supply chains and inflation dynamics. Using monthly data for six large and well … implement a structural vector autoregressive model and document that weather anomalies could disrupt supply chains and …
Persistent link: https://www.econbiz.de/10015058641
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Assessing the Impact of Supply Disruptions on the Global Pandemic Recovery
Kemp, Harri - 2023
We estimate the role of (pre-Ukraine war) supply disruptions in constraining the Covid-19 pandemic recovery, for several advanced economies and emerging markets, and globally. We rely on two approaches. In the first approach, we use sign-restricted Vector Auto Regressions (SVAR) to identify...
Persistent link: https://www.econbiz.de/10015059658