Managing Climate Risk in Mortgage Markets: A Role for Derivatives

Ketan B. Patel
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Ketan B. Patel: https://www.chicagofed.org/people/p/patel-ketan

Chicago Fed Letter, 2021, issue 462, 6

Abstract: The world’s communities and economies are already feeling significant effects from global warming and related climate and extreme weather events, as the latest United Nations Intergovernmental Panel on Climate Change (IPCC) world climate report published in August 2021 makes clear. In some industry sectors, such as insurance and energy, financial market tools have been developed specifically to mitigate the risk of financial loss related to climate. Such tools have yet to be developed for the U.S. mortgage market—one of the world’s largest at roughly $11 trillion as of the end of 2020.

Keywords: Financial; Economics (search for similar items in EconPapers)
JEL-codes: G12 G15 G21 Q54 (search for similar items in EconPapers)
Date: 2021
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