Climate-change scenarios require volatility effects to imply substantial credit losses: shocks drive credit risk not changes in economic trends
IntroductionLong-run Macro-Prudential stability objectives for the banking system have recently motivated a detailed focus on potential future credit risks stemming from climate change. Led by regulators and the NGFS, early approaches apply smooth, top-down scenarios that utilize carbon emissions da...
Main Authors: | Scott D. Aguais, Laurence R. Forest |
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Format: | Article |
Language: | English |
Published: |
Frontiers Media S.A.
2023-04-01
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Series: | Frontiers in Climate |
Subjects: | |
Online Access: | https://www.frontiersin.org/articles/10.3389/fclim.2023.1127479/full |
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