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positive impact on society, globalization and the rapid pace of technological development, including robotics and artificial … now even more supported in the dynamics of political discourses, because as it happened between the two World Wars and all … the events that led to the Second World War, liberal democracies are again showing the potential loopholes in their own …
Persistent link: https://www.econbiz.de/10014112915
What do climate change, global financial crises, pandemics, and fragility and conflict have in common? They are all examples of global risks that can cross geographical and generational boundaries and whose mismanagement can reverse gains in development and jeopardize the well-being of...
Persistent link: https://www.econbiz.de/10013043705
What do climate change, global financial crises, pandemics, and fragility and conflict have in common? They are all examples of global risks that can cross geographical and generational boundaries and whose mismanagement can reverse gains in development and jeopardize the well-being of...
Persistent link: https://www.econbiz.de/10013044864
We study whether floods can affect financial stability through a credit risk channel. Our focus is on the Netherlands, a country situated partly below sea level, where insurance policies exclude property damages caused by some types of floods. Using geocoded data for close to EUR 650 billion in...
Persistent link: https://www.econbiz.de/10014450613
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
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
Using a stock-flow-fund ecological macroeconomic model, we analyse (i) the effects of climate change on financial stability and (ii) the financial and global warming implications of a green quantitative easing (QE) programme. Emphasis is placed on the impact of climate change damages on the...
Persistent link: https://www.econbiz.de/10012896323
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/10012625820