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 …

states, insurers increase rates in low friction states. Over time, rates get disjoint from underlying risk, and grow faster … in states with low pricing frictions. Our findings have consequences for how climate risk is shared in the economy and …

greater with increases in a firm’s vulnerability to climate change news risk. The industry’s resistance to a timely low … news risk increase after 2013, strengthening firms’ inclination to lobby just when this activity becomes less valued by …

-form expressions of welfare loss from shocks and epistemological uncertainty identify the interaction of (intertemporal) risk attitude …

composition of the optimal mix as both persuade the risk-averse social planner to invest more in mitigation. Overall, we identify …

difficulties identified with IAMs, the choice of the risk aversion parameter and the underestimation of damages, are also directly …