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weekly return and volatility data, constructed by the daily prices from four markets, covering the period April 2014 …
Persistent link: https://www.econbiz.de/10013405978
Using a global dataset, we document that market-level climate vulnerability is positively associated with stock price crash risk of individual firms. We establish causality by using an instrumental variable analysis and difference-in-differences analysis. Furthermore, we show that an increase in...
Persistent link: https://www.econbiz.de/10013406782
We study the impact of climate volatility on economic growth exploiting data on 133 countries between 1960 and 2005. We … show that the conditional (ex ante) volatility of annual temperatures increased steadily over time, rendering climate … temperatures, a +1oC increase in temperature volatility causes on average a 0.9 per cent decline in GDP growth and a 1.3 per cent …
Persistent link: https://www.econbiz.de/10012608712
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We examine whether and how lending banks around the world respond to borrowers' carbon emissions – the major …
Persistent link: https://www.econbiz.de/10012892350
In this paper we investigate how financial system stability, assessed through market-based systemic risk measures (SRMs), relates to climate-induced catastrophes and to the structural change caused by the low-carbon transition. We first detect whether, to what extent and how quickly SRMs of the...
Persistent link: https://www.econbiz.de/10013306172
-challenged world, and the importance of infrastructure investment geared toward such systems changes. The key policies to enable the …
Persistent link: https://www.econbiz.de/10013306807
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