This paper maps the risk arising from the transition to a low-emission economy and studies its transmission channels within the financial system. The environmental dynamic stochastic general equilibrium (E-DSGE) model shows that tightening environmental regulations deteriorates firms' balance...

This paper develops an environmental dynamic stochastic general equilibrium (E-DSGE) model with heterogeneous production sectors. In particular, the model comprises some low-carbon emission firms that finance their investments and production only through banking loans, and high-carbon emission...

Urban India, particularly metros, is a major hotspot of air pollution with a PM2.5 concentration level ranging above the permissible limits defined by the WHO for most of the year. Unsurprisingly, special efforts have been made by the Government of India in recent years to improve air quality....