We explore the design of climate stress tests to assess and manage macroprudential risks
from climate change in the financial sector. We review the climate stress scenarios currently …

Assets in the fossil fuel industries are at risk of losing market value due to unanticipated
breakthroughs in renewable technology and governments stepping up climate policies in …

We study climate and macroprudential policies in an economy with financial frictions. Using
a dynamic stochastic general equilibrium model featuring both a pollution market failure and …

As the country with the world's largest coal power capacity, China is launching a national
carbon market. How the carbon pricing may contribute to phasing out China's coal power is …

We study the relationship between business cycles and the design and effects of
environmental policies, particularly those with economy-wide significance like climate …

The Inflation Reduction Act of 2022 (IRA) represents the largest climate policy action ever
undertaken in the United States. Its legislative path was marked by two abrupt shifts as the …

Many types of capital stocks—natural, physical, and human—stand to lose value because of
climate policy and to become “stranded.” The owners of such assets will resist climate …

Climate policies aimed at reducing greenhouse gas emissions can lead to decreases in the
values of assets, risking them to become “stranded”. We study the price effects of the …

We study the relationship between business cycles and the design and effects of
environmental policies, particularly those with economy-wide significance like climate …

Whether and how firms are affected by uncertainty revolving around the implementation of
climate policy is crucial to understand their behavior as well as investors', which are …