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floods for bank capital. For a set of 38 adverse scenarios, we estimate that flood-related property damages lead to capital … subject to a number of assumptions. If climate change continues, more frequent floods or flood-related macrofinancial …
Persistent link: https://www.econbiz.de/10014450613
common than official flood maps would predict, suggesting that local knowledge may also mitigate disaster impacts. …
Persistent link: https://www.econbiz.de/10012660373
Persistent link: https://www.econbiz.de/10014443643
Fighting climate change is one of the biggest challenges in the 21st century. Climate change that leads to global warming has been increasingly visible in our environment. Extreme weather conditions such as hurricanes, floods, and droughts have been escalating and their acceleration can be...
Persistent link: https://www.econbiz.de/10012306780
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development. Utilizing bank-level data from 1242 banks in 72 countries, combined with natural disaster data from the Center for …
Persistent link: https://www.econbiz.de/10014497050
I propose a rare disaster model of an economy where disasters are driven by CO2 levels that are determined by inputs of … carbons from the firms of the economy. The probability and intensity of disaster are determined in part by the level of CO2 in … and risk premium. However, if the probability of climatic disaster rises sufficiently, these relationships can change. I …
Persistent link: https://www.econbiz.de/10012859440
This paper studies the exposure of European investment funds to transition climate risks and its implications for the rest of the financial system. Based on granular data on investment funds’ assets and liabilities, we measure the percentage of brown assets in funds' portfolios and the extent...
Persistent link: https://www.econbiz.de/10014350314
Nowadays climate change and global warming tend to be considered primarily through the lens of environmental degradation and increased frequency of natural calamities. Meanwhile, it is pivotal to note that the implications of this process are reaching far beyond these trends, affecting the...
Persistent link: https://www.econbiz.de/10014355257
There is increasing concern among financial regulators that changes in the distribution and frequency of extreme weather events induced by climate change could pose a threat to global financial stability. In order to assess this risk, we develop a simple model of the propagation of...
Persistent link: https://www.econbiz.de/10012831267