System-wide amplification of climate risk

Tomasz Dubiel-Teleszynski, Fabio Franch, Gábor Fukker, Debora Miccio, Michela Pellegrino and Matthias Sydow

Macroprudential Bulletin, 2022, vol. 17

Abstract: A system-wide stress testing framework allows for a comprehensive assessment of the financial impact of severe climate risk scenarios. The combined reactions of banks, investment funds and insurers to climate stress amplify losses in the financial system. JEL Classification: D85, G01, G21, G23, L14

Keywords: Fire sales; Liquidity; Overlapping portfolios; Price impact; Stress testing (search for similar items in EconPapers)
Date: 2022-06
Note: 448291
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecbmbu:2022:0017:2

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