Climate Disaster Risks Empirics And A Multi Phase Dynamic Model

Author : Stefan Mittnik,Willi Semmler,Alexander Haider
Publisher : International Monetary Fund
Page : 47 pages
File Size : 49,6 Mb
Release : 2019-07-11
Category : Business & Economics
ISBN : 9781498320849

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Climate Disaster Risks – Empirics and a Multi-Phase Dynamic Model by Stefan Mittnik,Willi Semmler,Alexander Haider Pdf

Recent research in financial economics has shown that rare large disasters have the potential to disrupt financial sectors via the destruction of capital stocks and jumps in risk premia. These disruptions often entail negative feedback e?ects on the macroecon-omy. Research on disaster risks has also actively been pursued in the macroeconomic models of climate change. Our paper uses insights from the former work to study disaster risks in the macroeconomics of climate change and to spell out policy needs. Empirically the link between carbon dioxide emission and the frequency of climate re-lated disaster is investigated using cross-sectional and panel data. The modeling part then uses a multi-phase dynamic macro model to explore this causal nexus and the e?ects of rare large disasters resulting in capital losses and rising risk premia. Our proposed multi-phase dynamic model, incorporating climate-related disaster shocks and their aftermath as one phase, is suitable for studying mitigation and adaptation policies.

Author : Stefan Mittnik,Willi Semmler,Alexander Haider
Publisher : International Monetary Fund
Page : 47 pages
File Size : 50,9 Mb
Release : 2019-07-11
Category : Business & Economics
ISBN : 9781498326278

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Climate Disaster Risks – Empirics and a Multi-Phase Dynamic Model by Stefan Mittnik,Willi Semmler,Alexander Haider Pdf

Recent research in financial economics has shown that rare large disasters have the potential to disrupt financial sectors via the destruction of capital stocks and jumps in risk premia. These disruptions often entail negative feedback e?ects on the macroecon-omy. Research on disaster risks has also actively been pursued in the macroeconomic models of climate change. Our paper uses insights from the former work to study disaster risks in the macroeconomics of climate change and to spell out policy needs. Empirically the link between carbon dioxide emission and the frequency of climate re-lated disaster is investigated using cross-sectional and panel data. The modeling part then uses a multi-phase dynamic macro model to explore this causal nexus and the e?ects of rare large disasters resulting in capital losses and rising risk premia. Our proposed multi-phase dynamic model, incorporating climate-related disaster shocks and their aftermath as one phase, is suitable for studying mitigation and adaptation policies.

Author : Unurjargal Nyambuu,Willi Semmler
Publisher : Springer Nature
Page : 204 pages
File Size : 48,7 Mb
Release : 2023-05-30
Category : Business & Economics
ISBN : 9783031279829

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Sustainable Macroeconomics, Climate Risks and Energy Transitions by Unurjargal Nyambuu,Willi Semmler Pdf

Given the industrialized world’s historical dependence on fossil fuel-based energy resources and the now-realized perils of moving beyond the earth’s carbon budget, this book explores the myriad challenges of climate change and in reaching a low-carbon economy. Reconciling the medium-term competing, yet frequently complementary, needs for transition policies, the book provides guidelines for complex and often conflicting climate policy tasks. The book presents empirical trends in the use of carbon-emitting resources and evaluates market-driven short-termism and its adverse impact on resource use and the environment; it emphasizes a medium-term macroeconomic perspective for the transition. The authors attempt a paradigm shift towards a framework of sustainable macroeconomics. They survey relevant historical models, conduct empirical and numerical analyses of the climate change-relevant dynamic models, provide empirical illustrations, and evaluate diverse policy options and implementations together with their historical evolution. New analytical issues are also considered, e.g., strategic behavior in the energy and resource sectors, energy competition and the dynamics of market shares in new energy technology, and supporting policies for dealing with the tipping points encountered in climate change. The authors suggest a multitude of market-based strategies and public fiscal, monetary, and financial policies, and longer-run planning for resource extraction -all suitable for driving sustainable growth and a transformation of the energy sector. The book also examines the multiple delaying forces slowing the transition to a low-carbon economy; these typically arise from short-termism, lock-ins, irreversibility, leakages, non-cooperative games, and other political strategies. Thus, they explain the snail’s pace evolution of current national and global climate policies. The book will appeal to scholars and students of economics and environmental science. It is also relevant for policymakers and practitioners in multilateral institutions, research institutions as well as governments and ministries of countries interested in alternative energy sources, climate economists, and those who study the implementation of sustainable and low carbon-based policies.

Author : Bernhelm Booss,Jens Hesselbjerg Christensen,Katherine Richardson,Oriol Vallès Codina
Publisher : Springer Nature
Page : 514 pages
File Size : 47,5 Mb
Release : 2024
Category : System theory
ISBN : 9783031451058

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Multiplicity of Time Scales in Complex Systems by Bernhelm Booss,Jens Hesselbjerg Christensen,Katherine Richardson,Oriol Vallès Codina Pdf

This highly interdisciplinary volume brings together a carefully curated set of case studies examining complex systems with multiple time scales (MTS) across a variety of fields: materials science, epidemiology, cell physiology, mathematics, climatology, energy transition planning, ecology, economics, sociology, history, and cultural studies. The book addresses the vast diversity of interacting processes underlying the behaviour of different complex systems, highlighting the multiplicity of characteristic time scales that are a common feature of many and showcases a rich variety of methodologies across disciplinary boundaries. Self-organizing, out-of-equilibrium, ever-evolving systems are ubiquitous in the natural and social world. Examples include the climate, ecosystems, living cells, epidemics, the human brain, and many socio-economic systems across history. Their dynamical behaviour poses great challenges in the pressing context of the climate crisis, since they may involve nonlinearities, feedback loops, and the emergence of spatial-temporal patterns, portrayed by resilience or instability, plasticity or rigidity; bifurcations, thresholds and tipping points; burst-in excitation or slow relaxation, and worlds of other asymptotic behaviour, hysteresis, and resistance to change. Chapters can be read individually by the reader with special interest in such behaviours of particular complex systems or in specific disciplinary perspectives. Read together, however, the case studies, opinion pieces, and meta-studies on MTS systems presented and analysed here combine to give the reader insights that are more than the sum of the book's individual chapters, as surprising similarities become apparent in seemingly disparate and unconnected systems. MTS systems call into question naïve perceptions of time and complexity, moving beyond conventional ways of description, analysis, understanding, modelling, numerical prediction, and prescription of the world around us. This edited collection presents new ways of forecasting, introduces new means of control, and -- perhaps as the most demanding task -- it singles out a sustainable description of an MTS system under observation, offering a more nuanced interpretation of the floods of quantitative data and images made available by high- and low-frequency measurement tools in our unprecedented era of information flows.

Author : Christopher B. Field,Vicente Barros,Thomas F. Stocker,Qin Dahe
Publisher : Cambridge University Press
Page : 593 pages
File Size : 50,9 Mb
Release : 2012-05-28
Category : Science
ISBN : 9781107380103

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Managing the Risks of Extreme Events and Disasters to Advance Climate Change Adaptation by Christopher B. Field,Vicente Barros,Thomas F. Stocker,Qin Dahe Pdf

This Intergovernmental Panel on Climate Change Special Report (IPCC-SREX) explores the challenge of understanding and managing the risks of climate extremes to advance climate change adaptation. Extreme weather and climate events, interacting with exposed and vulnerable human and natural systems, can lead to disasters. Changes in the frequency and severity of the physical events affect disaster risk, but so do the spatially diverse and temporally dynamic patterns of exposure and vulnerability. Some types of extreme weather and climate events have increased in frequency or magnitude, but populations and assets at risk have also increased, with consequences for disaster risk. Opportunities for managing risks of weather- and climate-related disasters exist or can be developed at any scale, local to international. Prepared following strict IPCC procedures, SREX is an invaluable assessment for anyone interested in climate extremes, environmental disasters and adaptation to climate change, including policymakers, the private sector and academic researchers.

Author : Guillaume Coqueret
Publisher : CRC Press
Page : 135 pages
File Size : 40,5 Mb
Release : 2022-03-08
Category : Business & Economics
ISBN : 9781000536539

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Perspectives in Sustainable Equity Investing by Guillaume Coqueret Pdf

Sustainable investing has recently gained traction throughout the world. This trend has multiple sources, which span from genuine ethical concerns to hopes of performance boosting, and also encompass risk mitigation. The resulting appetite for green assets is impacting the decisions of many investors. Perspectives in Sustainable Equity Investing is an up-to-date review of the academic literature on sustainable equity investing. It covers more than 800 academic sources grouped into six thematic chapters. Designed for corporate sustainability and financial management professionals, this is an ideal reference for ESG-driven financiers (both retail and institutional). Students majoring in finance or economics with some background or interest in ESG concerns would also find this compact overview useful. Key Features: Introduces the reader to terms and nomenclature used in the field. Surveys the link between sustainability and performance (including risk). Details the integration of sustainable criteria in complex portfolio optimization. Reviews the financial liabilities induced by climate change.

Author : The Expert Panel on Climate Change Risks and Adaptation Potential
Publisher : Council of Canadian Academies
Page : 88 pages
File Size : 51,6 Mb
Release : 2019-07-04
Category : Science
ISBN : 9781926522678

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Canada’s Top Climate Change Risks by The Expert Panel on Climate Change Risks and Adaptation Potential Pdf

Canada’s Top Climate Change Risks identifies the top risk areas based on the extent and likelihood of the potential damage, and rates the risk areas according to society’s ability to adapt and reduce negative outcomes. These 12 major areas of risk are: agriculture and food, coastal communities, ecosystems, fisheries, forestry, geopolitical dynamics, governance and capacity, human health and wellness, Indigenous ways of life, northern communities, physical infrastructure, and water. The report describes an approach to inform federal risk prioritization and adaptation responses. The Panel outlines a multi-layered method of prioritizing adaptation measures based on an understanding of the risk, adaptation potential, and federal roles and responsibilities.

Author : Signe Krogstrup,William Oman
Publisher : International Monetary Fund
Page : 58 pages
File Size : 47,7 Mb
Release : 2019-09-04
Category : Business & Economics
ISBN : 9781513511955

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Macroeconomic and Financial Policies for Climate Change Mitigation: A Review of the Literature by Signe Krogstrup,William Oman Pdf

Climate change is one of the greatest challenges of this century. Mitigation requires a large-scale transition to a low-carbon economy. This paper provides an overview of the rapidly growing literature on the role of macroeconomic and financial policy tools in enabling this transition. The literature provides a menu of policy tools for mitigation. A key conclusion is that fiscal tools are first in line and central, but can and may need to be complemented by financial and monetary policy instruments. Some tools and policies raise unanswered questions about policy tool assignment and mandates, which we describe. The literature is scarce, however, on the most effective policy mix and the role of mitigation tools and goals in the overall policy framework.

Author : Haris Doukas,Alexandros Flamos,Jenny Lieu
Publisher : Springer
Page : 271 pages
File Size : 51,8 Mb
Release : 2018-12-10
Category : Business & Economics
ISBN : 9783030031527

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Understanding Risks and Uncertainties in Energy and Climate Policy by Haris Doukas,Alexandros Flamos,Jenny Lieu Pdf

This open access book analyzes and seeks to consolidate the use of robust quantitative tools and qualitative methods for the design and assessment of energy and climate policies. In particular, it examines energy and climate policy performance and associated risks, as well as public acceptance and portfolio analysis in climate policy, and presents methods for evaluating the costs and benefits of flexible policy implementation as well as new framings for business and market actors. In turn, it discusses the development of alternative policy pathways and the identification of optimal switching points, drawing on concrete examples to do so. Lastly, it discusses climate change mitigation policies’ implications for the agricultural, food, building, transportation, service and manufacturing sectors.

Author : Intergovernmental Panel on Climate Change (IPCC)
Publisher : Cambridge University Press
Page : 1807 pages
File Size : 47,5 Mb
Release : 2022-05-19
Category : Science
ISBN : 9781009178464

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The Ocean and Cryosphere in a Changing Climate by Intergovernmental Panel on Climate Change (IPCC) Pdf

The Intergovernmental Panel on Climate Change (IPCC) is the leading international body for assessing the science related to climate change. It provides policymakers with regular assessments of the scientific basis of human-induced climate change, its impacts and future risks, and options for adaptation and mitigation. This IPCC Special Report on the Ocean and Cryosphere in a Changing Climate is the most comprehensive and up-to-date assessment of the observed and projected changes to the ocean and cryosphere and their associated impacts and risks, with a focus on resilience, risk management response options, and adaptation measures, considering both their potential and limitations. It brings together knowledge on physical and biogeochemical changes, the interplay with ecosystem changes, and the implications for human communities. It serves policymakers, decision makers, stakeholders, and all interested parties with unbiased, up-to-date, policy-relevant information. This title is also available as Open Access on Cambridge Core.

Author : Groupe d'experts intergouvernemental sur l'évolution du climat
Publisher : Unknown
Page : 151 pages
File Size : 41,5 Mb
Release : 2015
Category : Electronic
ISBN : 9291691437

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Climate Change 2014 by Groupe d'experts intergouvernemental sur l'évolution du climat Pdf

Author : Patrick A. Ray,Casey M. Brown
Publisher : World Bank Publications
Page : 146 pages
File Size : 53,7 Mb
Release : 2015-08-20
Category : Business & Economics
ISBN : 9781464804786

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Confronting Climate Uncertainty in Water Resources Planning and Project Design by Patrick A. Ray,Casey M. Brown Pdf

Confronting Climate Uncertainty in Water Resources Planning and Project Design describes an approach to facing two fundamental and unavoidable issues brought about by climate change uncertainty in water resources planning and project design. The first is a risk assessment problem. The second relates to risk management. This book provides background on the risks relevant in water systems planning, the different approaches to scenario definition in water system planning, and an introduction to the decision-scaling methodology upon which the decision tree is based. The decision tree is described as a scientifically defensible, repeatable, direct and clear method for demonstrating the robustness of a project to climate change. While applicable to all water resources projects, it allocates effort to projects in a way that is consistent with their potential sensitivity to climate risk. The process was designed to be hierarchical, with different stages or phases of analysis triggered based on the findings of the previous phase. An application example is provided followed by a descriptions of some of the tools available for decision making under uncertainty and methods available for climate risk management. The tool was designed for the World Bank but can be applicable in other scenarios where similar challenges arise.

Author : Anthony Bonen,Mr.Prakash Loungani,Willi Semmler,Sebastian Koch
Publisher : International Monetary Fund
Page : 46 pages
File Size : 44,5 Mb
Release : 2016-08-05
Category : Business & Economics
ISBN : 9781475523690

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Investing to Mitigate and Adapt to Climate Change by Anthony Bonen,Mr.Prakash Loungani,Willi Semmler,Sebastian Koch Pdf

We propose a macroeconomic model to assess optimal public policy decisions in the the face of competing funding demands for climate change action versus traditional welfare-enhancing capital investment. How to properly delineate the costs and benefits of traditional versus adaption-focused development remains an open question. The paper places particular emphasis on the changing level of risk and vulnerabilities faced by developing countries as they allocate investment toward growth strategies, adapting to climate change and emissions mitigation.

Author : Richard Willson
Publisher : Routledge
Page : 233 pages
File Size : 54,8 Mb
Release : 2020-10-19
Category : Architecture
ISBN : 9781000200140

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Reflective Planning Practice by Richard Willson Pdf

Reflective Planning Practice: Theory, Cases, and Methods uses structured, first-person reflection to reveal the artistry of planning practice. The value of professional reflection is widely recognized, but there is a difference between acknowledging it and doing it. This book takes up that challenge, providing planners’ reflections on past practice as well as prompts for reflecting in the midst of planning episodes. It explains a reflection framework and employs it in seven case studies written by planning educators who also practice. The cases reveal practical judgments made during the planning episode and takeaways for practice, as the planners used logic and emotion, and applied convention and invention. The practical judgments are explained from the perspective of the authors’ personal experiences, purposes, and professional style, and their interpretation of the rich context that underpins the cases including theories, sociopolitical aspects, workplace setting, and roles. The book seeks to awaken students and practitioners to the opportunities of a pragmatic, reflective approach to planning practice.

Author : Leonardo Martinez-Diaz,Jesse M. Keenan
Publisher : U.S. Commodity Futures Trading Commission
Page : 196 pages
File Size : 42,6 Mb
Release : 2020-09-09
Category : Science
ISBN : 9780578748412

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Managing Climate Risk in the U.S. Financial System by Leonardo Martinez-Diaz,Jesse M. Keenan Pdf

This publication serves as a roadmap for exploring and managing climate risk in the U.S. financial system. It is the first major climate publication by a U.S. financial regulator. The central message is that U.S. financial regulators must recognize that climate change poses serious emerging risks to the U.S. financial system, and they should move urgently and decisively to measure, understand, and address these risks. Achieving this goal calls for strengthening regulators’ capabilities, expertise, and data and tools to better monitor, analyze, and quantify climate risks. It calls for working closely with the private sector to ensure that financial institutions and market participants do the same. And it calls for policy and regulatory choices that are flexible, open-ended, and adaptable to new information about climate change and its risks, based on close and iterative dialogue with the private sector. At the same time, the financial community should not simply be reactive—it should provide solutions. Regulators should recognize that the financial system can itself be a catalyst for investments that accelerate economic resilience and the transition to a net-zero emissions economy. Financial innovations, in the form of new financial products, services, and technologies, can help the U.S. economy better manage climate risk and help channel more capital into technologies essential for the transition. https://doi.org/10.5281/zenodo.5247742