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System-wide amplification of climate risk

Author

Listed:
  • Dubiel-Teleszynski, Tomasz
  • Franch, Fabio
  • Fukker, Gábor
  • Miccio, Debora
  • Pellegrino, Michela
  • Sydow, Matthias

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

Suggested Citation

  • Dubiel-Teleszynski, Tomasz & Franch, Fabio & Fukker, Gábor & Miccio, Debora & Pellegrino, Michela & Sydow, Matthias, 2022. "System-wide amplification of climate risk," Macroprudential Bulletin, European Central Bank, vol. 17.
    • Handle: RePEc:ecb:ecbmbu:2022:0017:2
    Note: 448291
    as

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    File URL: https://www.ecb.europa.eu//pub/financial-stability/macroprudential-bulletin/html/ecb.mpbu202206_2~1bec56088f.en.html
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    Citations

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    Cited by:

    1. Martijn Boermans, 2022. "A literature review of securities holdings statistics research and a practitioner’s guide," Working Papers 757, DNB.

    More about this item

    Keywords

    Fire sales; Liquidity; Overlapping portfolios; Price impact; Stress testing;
    All these keywords.

    JEL classification:

    • D85 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Network Formation
    • G01 - Financial Economics - - General - - - Financial Crises
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation

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