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Adaptation Using Financial Markets : Climate Risk Diversification through Securitization
Kahn, Matthew E.; Ouazad, Amine; Yönder, Erkan - National Bureau of Economic Research - 2024
In the face of rising climate risk, financial institutions may adapt by transferring such risk to securitizers that … to climate risk may be a drop in the ocean of cash flows. This paper builds a data set of the entire securitization chain … optimal deals by finding the portfolio weights in an asset demand system that targets return and risk. Extrapolating wildfire …
Persistent link: https://www.econbiz.de/10014512098
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Is Physical Climate Risk Priced? Evidence from Regional Variation in Exposure to Heat Stress
Acharya, Viral V.; Johnson, Tim; Sundaresan, Suresh M.; … - National Bureau of Economic Research - 2022
We exploit regional variations in exposure to heat stress to study if physical climate risk is priced in municipal and …
Persistent link: https://www.econbiz.de/10013388801
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Industrial Composition of Syndicated Loans and Banks' Climate Commitments
Hale, Galina; Meisenbacher, Brigid; Nechio, Fernanda - National Bureau of Economic Research - 2024
In the past two decades, a number of banks joined global initiatives aimed to mitigate climate change by "greening" their asset portfolios. We study whether banks that made such commitments have a different emission exposure of their portfolios of syndicated loans than banks that did not. We...
Persistent link: https://www.econbiz.de/10015056201
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Learning, Catastrophic Risk and Ambiguity in the Climate Change Era
Moore, Frances - National Bureau of Economic Research - 2024
distribution, with associated costs for weather risk management and risk-averse decision-makers. These costs result purely from the …
Persistent link: https://www.econbiz.de/10014635647
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The Macroeconomic Impact of Climate Change : Global vs. Local Temperature
Bilal, Adrien; Känzig, Diego R. - National Bureau of Economic Research - 2024
temperature leads to a 12% decline in world GDP. Global temperature shocks correlate much more strongly with extreme climatic …
Persistent link: https://www.econbiz.de/10014544728
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Food Policy in a Warming World
Hsiao, Allan; Moscona, Jacob; Sastry, Karthik - National Bureau of Economic Research - 2024
Do governments systematically intervene in agricultural markets in response to climate shocks? If so, what are the aggregate and distributional consequences? We construct a global dataset of agricultural policies and extreme heat exposure by country and crop since 1980. We find that extreme heat...
Persistent link: https://www.econbiz.de/10014576567
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Disaster Management
Van Reenen, John; Norris Keiller, Agnes - National Bureau of Economic Research - 2024
such disasters and adapt to their increased frequency. We examine this issue using a the latest wave of the World … to adapt to climate change both overall and in response to their perceived climate risk. Other aspects of firm …
Persistent link: https://www.econbiz.de/10014576624
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International Climate Agreements and the Scream of Greta
Maggi, Giovanni; Staiger, Robert W. - National Bureau of Economic Research - 2022
Current policies directed at mitigating global warming appear unlikely to prevent temperatures from rising to levels that would trigger a precipitous increase in the costs of climate change. Various attempts at international cooperation to avoid this outcome have failed. Why is this problem so...
Persistent link: https://www.econbiz.de/10013462728
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Quantifying Climate Change Loss and Damage Consistent with a Social Cost of Greenhouse Gases
Burke, Marshall; Zahid, Mustafa; Diffenbaugh, Noah; … - National Bureau of Economic Research - 2023
Climate change is generating demonstrable harm around the world. Political and legal efforts have sought to associate …
Persistent link: https://www.econbiz.de/10014372415
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Climate Change Around the World
Krusell, Per; Smith, Anthony A. - National Bureau of Economic Research - 2022
The economic effects of climate change vary across both time and space. To study these effects, this paper builds a global economy-climate model featuring a high degree of geographic resolution. Carbon emissions from the use of energy in production increase the Earth's (average) temperature and...
Persistent link: https://www.econbiz.de/10013361992