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climate change. The risk of uncertain and potentially irreversible catastrophes is an important issue related to the latter … benchmark integrated assessment model. This study moves beyond recent catastrophe or tipping point studies with arbitrary risk … introduced here informs risk management strategies that balance uncertain future climate change impacts with the costs of …
Persistent link: https://www.econbiz.de/10011290817
climate change. The risk of uncertain and potentially irreversible catastrophes is an important issue related to the latter … benchmark integrated assessment model. This study moves beyond recent catastrophe or tipping point studies with arbitrary risk … introduced here informs risk management strategies that balance uncertain future climate change impacts with the costs of …
Persistent link: https://www.econbiz.de/10013019654
Recent theoretical work in the economics of climate change has suggested that climate policy is highly sensitive to 'fat-tailed' risks of catastrophic outcomes (Weitzman, 2009). Such risks are suggested to be an inevitable consequence of scientific uncertainty about the effects of increased...
Persistent link: https://www.econbiz.de/10013127841
Recent theoretical work in the economics of climate change has suggested that climate policy is highly sensitive to ‘fat-tailed’ risks of catastrophic outcomes (Weitzman, 2009b). Such risks are suggested to be an inevitable consequence of scientific uncertainty about the effects of increased...
Persistent link: https://www.econbiz.de/10013315705
, which are disproportionately affected by climate change, raises significant concerns. This study shows that sovereign risk …. Countries with elevated risk levels are disproportionately vulnerable to climate change compared to their lower-risk … vulnerability to climate change, in terms of sovereign risk, particularly for countries with low spreads and long-term debt …
Persistent link: https://www.econbiz.de/10014529900
disaster impact model with a general equilibrium model of the economy. We apply the methodology to study the effects of … post-disaster recovery after a single shock can take several decades, with notable cumulative negative effects for …
Persistent link: https://www.econbiz.de/10014251945
-related underwriting risk from issuers to capital markets. This paper addresses key, unanswered questions concerning Cat bonds and offers … less exposure to catastrophe risks and overall less need to hedge catastrophe risk. These results show that the access to … bonds are found to experience a reduction in their default risk relative to non-issuing firms and our results, therefore …
Persistent link: https://www.econbiz.de/10013068268
. There is now a growing tendency for risk manager to bypass traditional insurance markets, and a variety of instruments … designed directly to transfer risk to the financial markets. After a couple of years of low catastrophe claims, 1998 claims are …
Persistent link: https://www.econbiz.de/10013153250
nature of climate risk (i.e. deep uncertainty, non-linearity and endogeneity), and of financial risks (interconnectedness and …, sovereign and corporate bonds), climate scenarios conditioned risk metrics (such as the Climate Spread and the Climate Value-at-Risk …). These allow us to introduce forward-looking climate risk scenarios in the valuation of counterparty risk, in the probability …
Persistent link: https://www.econbiz.de/10012860414
Recent theoretical work in the economics of climate change has suggested that climate policy is highly sensitive to "fat-tailed" risks of catastrophic outcomes (Weitzman, 2009b). Such risks are suggested to be an inevitable consequence of scientific uncertainty about the effects of increased...
Persistent link: https://www.econbiz.de/10010199723