Pricing and Mispricing of Climate Risks in U.S. Financial Markets

Toan Phan

Richmond Fed Economic Brief, 2021, vol. 21, issue 41

Abstract: There is a rapidly growing research literature studying the effects of climate change risks on financial markets. Recent evidence suggests that markets have started to price climate risks. However, the extent of pricing varies across markets and time, and there is evidence of potential market inefficiencies. This article will highlight some key findings and their policy implications.

Keywords: climate risks; climate change (search for similar items in EconPapers)
Date: 2021
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