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Time-variation in the persistence of carbon price uncertainty : the role of carbon policy uncertainty

Cepni, Oguzhan; Gil-Alaña, Luis A.; Gupta, Rangan; … - 2024

Persistent link: https://www.econbiz.de/10015080005

A Comprehensive Macroeconomic Uncertainty Measure for the Euro Area and its Implications to COVID-19

Comunale, Mariarosaria - 2023

This paper develops a new data-driven metric to capture MacroEconomic Uncertainty (MEU) in the euro area. The measure … outbreak and is noticeably different from other more financial-oriented and policy-driven uncertainty measures. It also reveals … a significant increase in inflation uncertainty in 2021-2022. Our BVAR-based analysis shows that an unexpected increase …

Persistent link: https://www.econbiz.de/10015058984

Assessing Macrofinancial Risks from Crypto Assets

Hacibedel, Burcu - 2023

Failures in the crypto space-including the fall of Terra USD and the FTX debacle-have sparked calls for strengthening countries' policy frameworks for crypto assets, including by enhanced regulation and supervision. How have these heightened concerns about crypto assets been picked up in...

Persistent link: https://www.econbiz.de/10015059060

The Market Price of Risk and Macro-Financial Dynamics

Adrian, Tobias - 2023

We propose the conditional volatility of GDP spanned by financial factors as a "Volatility Financial Conditions Index" (VFCI) and show it is closely tied to the market price of risk. The VFCI exhibits superior explanatory power for stock and bond risk premia compared to other FCIs. We use a...

Persistent link: https://www.econbiz.de/10015059062

Global Economic Impacts of Physical Climate Risks

Lepore, Caterina - 2023

multisectoral sample of firms. For floods, these estimates account for the persistent productivity changes from the damage to firms …

Persistent link: https://www.econbiz.de/10015059092

Delays in Climate Transition Can Increase Financial Tail Risks: A Global Lesson from a Study in Mexico

Laliotis, Dimitrios - 2023

tail risks due to compounding effects from delays in transitioning to a low-carbon economy and the consequent uncertainty …

Persistent link: https://www.econbiz.de/10015059149

From Extreme Events to Extreme Seasons: Financial Stability Risks of Climate Change in Mexico

Dolk, Michaela - 2023

This paper explores the financial stability implications of acute physical climate change risks using a novel approach that focuses on a severe season associated with a sequence of tropical cyclone and flood events. Our approach was recently applied to study physical risks in the Mexican...

Persistent link: https://www.econbiz.de/10015059150

Macroeconomic Uncertainty and Capital-Skill Complementarity

Belianska, Anna - 2023

I examine the impact of macroeconomic uncertainty on labor market outcomes for skilled and unskilled workers and … propose a new channel to improve our understanding of the underlying propagation mechanisms. I find that uncertainty shocks …, significantly amplify contractionary effects of uncertainty on the real economy …

Persistent link: https://www.econbiz.de/10015059176

Sub-Saharan Africa's Risk Perception Premium: In the Search of Missing Factors

Gbohoui, William - 2023

Policymakers from the sub-Saharan Africa (SSA) region often flag a mispricing of their sovereign debt presumably originating from a perception risk by international investors that lead to "unjustifiably" high borrowing costs. Against this background, this paper explores the extent to which a...

Persistent link: https://www.econbiz.de/10015059330

Trading with Friends in Uncertain Times

Jakubik, Adam - 2023

uncertainty (TPU). Specifically, we investigate whether geopolitical alignments between country pairs determine how bilateral … trade flows react during periods of greater uncertainty. Using a structural gravity framework augmented with a text …

Persistent link: https://www.econbiz.de/10015059357