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We examine how climate change affects bank fragility. We find both physical and transitional climate changes lead to … portfolio synchronicity, and higher bank default probability. Our results are robust to using an instrumental variable approach …
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We examine the impact of the U.S. withdrawal from the Paris Agreement on the relationship between climate risk and systemic risk of U.S. global banks. We find that after 2017, investors stopped pricing climate risk into U.S. systemic risk directly, consistent with domestic investors expecting...
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development. Utilizing bank-level data from 1242 banks in 72 countries, combined with natural disaster data from the Center for … influence of natural disasters on banking stability. Secondly, we focus on bank-level data instead of country-level data …-fixed effects reveals that natural disasters significantly affect bank stability, particularly in middle- and low-income countries …
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The EU Taxonomy is the first standardised and comprehensive classification system for sustainable economic activities. It covers activities responsible for up to 80 percent of EU greenhouse gas emissions and may play an important role in channelling investments into low-carbon technologies by...
Persistent link: https://www.econbiz.de/10014090075
I model the effects of climate change on a real business cycle model economy subjected to climate moderated disasters and the possibility of a worldwide cataclysm that destroys the economy. I find that the rise of greenhouse gas production in the economy leads to more frequent and more...
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