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Assessing Financial Risks from Physical Climate Shocks

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  • Nicola Ann Ranger
  • Olivier Mahul
  • Irene Monasterolo

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  • Nicola Ann Ranger & Olivier Mahul & Irene Monasterolo, 2022. "Assessing Financial Risks from Physical Climate Shocks," World Bank Publications - Reports 37041, The World Bank Group.
    • Handle: RePEc:wbk:wboper:37041
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    References listed on IDEAS

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    4. Hiroyasu Inoue & Yasuyuki Todo, 2019. "Firm-level propagation of shocks through supply-chain networks," Nature Sustainability, Nature, vol. 2(9), pages 841-847, September.
    5. Merton, Robert C, 1974. "On the Pricing of Corporate Debt: The Risk Structure of Interest Rates," Journal of Finance, American Finance Association, vol. 29(2), pages 449-470, May.
    6. Klomp, Jeroen, 2014. "Financial fragility and natural disasters: An empirical analysis," Journal of Financial Stability, Elsevier, vol. 13(C), pages 180-192.
    7. Brei, Michael & Mohan, Preeya & Strobl, Eric, 2019. "The impact of natural disasters on the banking sector: Evidence from hurricane strikes in the Caribbean," The Quarterly Review of Economics and Finance, Elsevier, vol. 72(C), pages 232-239.
    8. Nicholas Stern, 2016. "Economics: Current climate models are grossly misleading," Nature, Nature, vol. 530(7591), pages 407-409, February.
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    10. Antoine Mandel & Timothy Tiggeloven & Daniel Lincke & Elco Koks & Philip Ward & Jochen Hinkel, 2021. "Risks on global financial stability induced by climate change: the case of flood risks," Climatic Change, Springer, vol. 166(1), pages 1-24, May.
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    13. Dunz, Nepomuk & Naqvi, Asjad & Monasterolo, Irene, 2021. "Climate sentiments, transition risk, and financial stability in a stock-flow consistent model," Journal of Financial Stability, Elsevier, vol. 54(C).
    14. Jordi Galí, 2018. "The State of New Keynesian Economics: A Partial Assessment," Journal of Economic Perspectives, American Economic Association, vol. 32(3), pages 87-112, Summer.
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    16. Stéphane Hallegatte, 2008. "An Adaptive Regional Input‐Output Model and its Application to the Assessment of the Economic Cost of Katrina," Risk Analysis, John Wiley & Sons, vol. 28(3), pages 779-799, June.
    17. Nicola Ranger & Stéphane Hallegatte & Sumana Bhattacharya & Murthy Bachu & Satya Priya & K. Dhore & Farhat Rafique & P. Mathur & Nicolas Naville & Fanny Henriet & Celine Herweijer & Sanjib Pohit & Jan, 2011. "An assessment of the potential impact of climate change on flood risk in Mumbai," Climatic Change, Springer, vol. 104(1), pages 139-167, January.
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    Cited by:

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    2. Vinzenz Peters, 2025. "How Banks are Impacted by and Mediate the Economic Consequences of Natural Disasters and Climate Shocks: A Review," De Economist, Springer, vol. 173(1), pages 47-85, March.
    3. Huang, Xiaowei & Cheng, Ge & Zhang, Man, 2025. "Climate change risk and real estate prices—Micro evidence from coastal cities in China," Pacific-Basin Finance Journal, Elsevier, vol. 90(C).
    4. Paola DOrazio & Torsten Schmidt & Maximilian Dirks, 2025. "Climaterelated transition risks in Southern African banks financial exposure and policy implications," Working Papers 11085, South African Reserve Bank.
    5. Laborda, Juan & Suárez, Cristina & Fernández, Alejandro & Wang, Haoran & Cerdá, Emilio & Ricci, Liana & Quiroga, Sonia, 2026. "Unveiling how financial markets could intensify climate change risks," Ecological Economics, Elsevier, vol. 239(C).
    6. Cao, Yufei, 2025. "Impact of climate change on dynamic tail-risk connectedness among stock market social sectors: Evidence from the US, Europe, and China," The North American Journal of Economics and Finance, Elsevier, vol. 75(PB).
    7. Piluso, Fabio & Strano, Eugenia & Ceraso, Danilo, 2025. "An analytic framework for assessing the impacts of physical risk through a (climate-related) expected shortfall," International Review of Economics & Finance, Elsevier, vol. 103(C).

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