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to track pre- and post shock dynamic trajectories of the economic and financial systems evolution in response to a simple … financial scenarios can arise from a particular climate shock narrative. Specifically, we consider the impact of a short …-lived (but significant) physical climate shock to the economy. This is then followed some time later by a fiscal (tax) policy …
Persistent link: https://www.econbiz.de/10014352735
Climate change is one of the greatest challenges facing humankind this century. If left unchecked, it is likely to result in more frequent and severe climatic events, with the potential to cause substantial disruption to our economies, businesses and livelihoods in the coming decades. Yet the...
Persistent link: https://www.econbiz.de/10012627188
Climate change could impose systemic risks upon the financial sector, either via disruptions in economic activity resulting from the physical impacts of climate change or changes in policies as the economy transitions to a less carbon-intensive environment. We develop a stress testing procedure...
Persistent link: https://www.econbiz.de/10013211572
Persistent link: https://www.econbiz.de/10013189145
We explore the design of climate stress tests to assess and manage macroprudential risks from climate change in the financial sector. We review the climate stress scenarios currently employed by regulators, highlighting the need to (i) consider many transition risks as dynamic policy choices;...
Persistent link: https://www.econbiz.de/10014355670
We explore the design of climate stress tests to assess and manage macro-prudential risks from climate change in the financial sector. We review the climate stress scenarios currently employed by regulators, highlighting the need to (i) consider many transition risks as dynamic policy choices;...
Persistent link: https://www.econbiz.de/10014358374
Persistent link: https://www.econbiz.de/10011900819
Persistent link: https://www.econbiz.de/10014445986
Persistent link: https://www.econbiz.de/10011400806
This paper describes the WITCH - World Induced Technical Change Hybrid - model in its structure, calibration, and the implementation of the SSP/RCP scenario implementation. The WITCH model is a regionally disaggregated hard-linked model based on a Ramsey type optimal growth model and a detailed...
Persistent link: https://www.econbiz.de/10011487772