Summary of All Sessions |
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37 sessions, 75 papers, and 0 presentations with no associated papers |
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The Second International Conference on the Climate-Macro-Finance Interface: New Environmental Challenges for Monetary, Fiscal, and Macroprudential Policy |
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Detailed List of Sessions |
| Session 1: Registration January 16, 2025 8:00 to 8:45 Location: Reception |
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| Session 2: Welcome Remarks: Anthony Finkelstein (President, City St George's, University of London), André Spicer (Dean, Bayes Business School, City St George's, University of London), Claudio Morana (University of Milano-Bicocca, CefES, RCEA) January 16, 2025 8:45 to 9:00 Location: LG001 |
| Session 3: Keynote Session1: Monetary Policy for the Green Transition. Lucrezia Reichlin (London Business School). Chair: Claudio Morana (University of Milano-Bicocca) January 16, 2025 9:00 to 10:00 Location: LG001 |
| Session 4: Coffee Break January 16, 2025 10:00 to 10:30 Location: Milling Area (2nd floor) |
| Session 5: BANK OF ENGLAND SESSION 1. Chair: Tamarah Shakir (Head of Division, Bank of England) January 16, 2025 10:30 to 12:00 Location: 2002 |
| Macroprudential regulations and greenwashing: a novel endogenous growth theory and empirical evidence |
| By Liang Fu; Xi'an Jiaotong-Liverpool University Shang Jiang; Nottingham Trent University King Yoong Lim; Xi'an Jiaotong-Liverpool University Chunping Liu; Nottingham Trent University |
| presented by: Chunping Liu, Nottingham Trent University |
| From Flood to Fire: Is physical climate risk taken into account in banks’ residential mortgage rates? |
| By Barbara Jarmulska; European Central Bank, Warsaw School of Economics Christopher Scheins; European Central Bank Claudia Schwarz; European Central Bank |
| presented by: Christopher Scheins, European Central Bank |
| Did Quantitative Easing Lead to More Gilt Issuance? |
| By Fabio Caccioli; University College London George Ciocoiu; University College London Mahmoud Fatouh; Bank of England |
| presented by: George Ciocoiu, University College London |
| The evolution of pricing of green lending |
| By Benjamin Guin; Bank of England |
| presented by: Benjamin Guin, Bank of England |
| Session 6: CLIMATE ECONOMETRICS 1 January 16, 2025 10:30 to 12:00 Location: 2003 |
| Identification of structural breaks in environmental time series using indicator saturation models and the Hodrick-Prescott filter with jumps |
| By Jennifer Castle; Oxford University Paolo Maranzano; University of Milano-Bicocca Matteo Pelagatti; Università di Milano-Bicocca |
| presented by: Matteo Pelagatti, Università di Milano-Bicocca |
| Radiative Forcing and Global Temperatures: 800,000 Years of Co-Movement |
| By Marc Gronwald; International Business School Suzhou at Xi'an Jiaotong-Liverpool University Xin Jin; Duke Kunshan University Sania Wadud; University of Leeds |
| presented by: Sania Wadud, University of Leeds |
| Forecasting Global Temperatures by Exploiting Cointegration with Radiative Forcing |
| By Luca Benati; Department of Economics |
| presented by: Luca Benati, Department of Economics |
| Forecasting Climate Change using a Multivariate Cointegrated System |
| By Jennifer Castle; Oxford University Jurgen Doornik; University of Oxford David Hendry; Oxford University |
| presented by: Jennifer Castle, Oxford University |
| Session 7: CLIMATE FINANCE 1 January 16, 2025 10:30 to 12:00 Location: 2004 |
| Financing Green Transition: Bank-Nonbank Partnerships |
| By Angela Gallo; Bayes Business School (formerly Cass) |
| presented by: Angela Gallo, Bayes Business School (formerly Cass) |
| Strategic Complementarities, Banks’ Stranded Asset Dynamics, and Financial Stability |
| By Yao Dong; King's College London |
| presented by: Yao Dong, King's College London |
| Performance Attribution for Portfolio Constraints |
| By Andrew Lo; Massachusetts Institute of Technology Ruixun Zhang; Peking University |
| presented by: Ruixun Zhang, Peking University |
| Green Assets, Risk Preferences and Portfolio Selection with Sustainability |
| By Lebogang Mateane; University of Cape Town Ibrahim Tahri |
| presented by: Ibrahim Tahri, |
| Session 8: MACROECONOMIC IMPACT OF CLIMATE CHANGE January 16, 2025 10:30 to 12:00 Location: 2006 |
| The heterogenous regional employment effects of climate change policies |
| By Davide Furceri; International Monetary Fund |
| presented by: Davide Furceri, International Monetary Fund |
| Going NUTS: the regional impact of extreme climate events over the medium term |
| By Sehrish Usman; Goethe University Guzman Gonzalez-Torres; Bank of Italy Miles Parker; European Central Bank |
| presented by: Miles Parker, European Central Bank |
| Evaluating the Impact of Weather on Employment in the Euro Area |
| By Miles Parker; European Central Bank Christofer Schroeder; European Central Bank |
| presented by: Christofer Schroeder, European Central Bank |
| A hot house? The simplest model of climate scenarios |
| By Livio Stracca; European Central Bank |
| presented by: Livio Stracca, European Central Bank |
| Session 9: ECB POLICY SESSION: Climate Policies, Scenarios, and Financing Gaps. Lucia Alessi (Joint Research Center for Economic Analysis - EC), Francesco Paolo Mongelli (European Central Bank), Livio Stracca (European Central Bank). Chair: Livio Stracca (European Central Bank) January 16, 2025 12:00 to 13:00 Location: LG001 |
| Session 10: Lunch January 16, 2025 13:00 to 14:00 Location: Milling Area (2nd floor) |
| Session 11: BANK OF ENGLAND SESSION 2. Chair: Simon Hall (Head of Division, Bank of England) January 16, 2025 14:00 to 15:30 Location: 2002 |
| Measuring the Effect of Green Monetary Policy Surprises |
| By Johannes Zahner; Goethe University Frankfurt Lion Fischer; University Marburg Marc steffen Rapp; University of Marburg |
| presented by: Johannes Zahner, Goethe University Frankfurt |
| Warning words in a warming world: Central bank communication and climate change |
| By Emanuele Campiglio; University of Bologna Jérôme Deyris; SciencesPo Davide Romelli; Trinity College Ginevra Scalisi; Sant'Anna School of Advanced Studies |
| presented by: Emanuele Campiglio, University of Bologna |
| Does climate change impact insurance credit risk? |
| By Jassem Alokla; Anglia Ruskin University |
| presented by: Jassem Alokla, Anglia Ruskin University |
| Climate Policy Uncertainty and Financial Dynamics: Insights from a Bayesian SVAR Analysis |
| By Massimo Guidolin; Bocconi University Serena Ionta; Bocconi University |
| presented by: Serena Ionta, Bocconi University |
| Session 12: CLIMATE ECONOMICS 1 January 16, 2025 14:00 to 15:30 Location: 2005 |
| Harnessing Renewables in Sub-Saharan Africa: Barriers, Reforms, and Economic Prospects |
| By Giovanni Melina; International Monetary Fund |
| presented by: Giovanni Melina, International Monetary Fund |
| Supply chain transmission of climate-related physical risks |
| By Douglas Araujo; Bank for International Settlements Fernando Linardi; Banco Central do Brasil Luis Otavio Vissotto; Banco Central do Brasil |
| presented by: Douglas Araujo, Bank for International Settlements |
| A Bridge over Troubled Water: Flooding Shocks and Supply Chains |
| By Mariano Montoya; KU Leuven |
| presented by: Mariano Montoya, KU Leuven |
| Climate-related Shocks and Inflation: Challenges for Central Bank in Emerging Economies |
| By Saraswati Saraswati; Australian National University |
| presented by: Saraswati Saraswati, Australian National University |
| Session 13: CLIMATE FINANCE 2 January 16, 2025 14:00 to 15:30 Location: 2003 |
| Credit and climate sentiments: the decarbonization frontier of risk pricing |
| By Régis Gourdel; WU Vienna |
| presented by: Régis Gourdel, WU Vienna |
| The Economics of Shipping Decarbonization: Carbon, Production, Cost and Allocative Efficiencies |
| By Ioannis Moutzouris; Bayes Business School |
| presented by: Ioannis Moutzouris, Bayes Business School |
| Climate change uncertainty, interest rates and corporate investment |
| By Davide Avino; University of Liverpool Rongxin Chen; Swansea University Hafiz Hoque; Swansea University |
| presented by: Davide Avino, University of Liverpool |
| Session 14: FINANCIAL IMPACT OF CLIMATE CHANGE January 16, 2025 14:00 to 15:30 Location: 2004 |
| Severe Weather and Financial (In)stability |
| By Claudia Foroni; ECB Paolo Gelain; Federal Reserve Bank of Cleveland Marco Lorusso; Newcastle University Business School Massimiliano Marcellino; Bocconi University |
| presented by: Paolo Gelain, Federal Reserve Bank of Cleveland |
| Climate Change Uncertainty and Corporate Debt Relationship |
| By Fredj Jawadi; University of Lille |
| presented by: Fredj Jawadi, University of Lille |
| Financial system interactions with ecosystem tipping points: evidence from the Brazilian Amazon and Indonesian peatlands |
| By Lydia Marsden; University College London |
| presented by: Lydia Marsden, University College London |
| Financial transmission of natural disasters - Evidence from the UK |
| By Dieter Gramlich; Baden-Württemberg Cooperative State University Heidenheim Meilan Yan; Loughborough University Dalu Zhang; Univeristy of Leicester |
| presented by: Meilan Yan, Loughborough University |
| Session 15: MACROECONOMIC IMPACT OF ENERGY CRISES January 16, 2025 14:00 to 15:30 Location: 2006 |
| The pass-through to inflation of gas price shocks |
| By Susana Parraga Rodriguez; ECB Edgar Silgado-Gomez; Banco de España |
| presented by: Susana Parraga Rodriguez, ECB |
| Fiscal and Macroprudential Policies During an Energy Crisis |
| By Romanos Priftis; European Central Bank Raphael Schoenle; Brandeis University |
| presented by: Romanos Priftis, European Central Bank |
| Eurozone Economic Integration: Historical Developments and New Challenges Ahead |
| By Claudio Morana; Università di Milano-Bicocca Fabio C. Bagliano; Università di Torino |
| presented by: Claudio Morana, Università di Milano-Bicocca |
| Energy Crisis and Bubbles: the case of gas, power and green hydrogen markets |
| By Isabel Figuerola Ferretti; ICADE |
| presented by: Isabel Figuerola Ferretti, ICADE |
| Session 16: Coffee Break January 16, 2025 15:30 to 16:00 Location: Milling Area (2nd floor) |
| Session 17: Keynote Session 2: Forecasting after a Break. David F. Hendry (Oxford University). Chair: Elisabetta Pellini (Bayes Business School) January 16, 2025 16:00 to 17:00 Location: LG001 |
| Session 18: Reception at the Bank of England. Hosted by David Bailey (Executive Director of Prudential Policy Directorate, Bank of England) January 16, 2025 17:30 to 20:00 Location: LG001 |
| Session 19: Registration January 17, 2025 8:00 to 8:30 Location: Reception |
| Session 20: BANK OF ENGLAND SESSION 3. Chair: - Rebecca Maule (Head of Division, Bank of England) January 17, 2025 8:30 to 10:00 Location: 2002 |
| A New Keynesian Model to Assess the Role of Green Public Capital |
| By Ioannis Kalientzidis; University of Strasbourg |
| presented by: Ioannis Kalientzidis, University of Strasbourg |
| Climate change increases bilateral trade cost |
| By Maximilian Huppertz; Bank of England |
| presented by: Maximilian Huppertz, Bank of England |
| Monetary policy stabilization in a new Keynesian model under climate change |
| By George Economides; Athens University of Economics and Business Anastasios Xepapadeas; Athens University of Economics and Business |
| presented by: George Economides, Athens University of Economics and Business |
| Climate Actions, Public Investment and Inflationary Effects in a Small Open Economy |
| By Guido Traficante; Università Europea di Roma e CASMEF |
| presented by: Guido Traficante, Università Europea di Roma e CASMEF |
| Session 21: CLIMATE ECONOMETRICS 2 January 17, 2025 8:30 to 10:00 Location: 2003 |
| Temperatures and Inflation Volatility |
| By Leonardo Ferreira; Banco Central do Brasil Fulvia Marotta; University of Oxford Marco Tibullo; Queen Mary University of London |
| presented by: Marco Tibullo, Queen Mary University of London |
| Temperature Exposure and Green Revenues of Firms Around the World |
| By Faek Menla Ali; University of Sussex Panagiotis Tzouvanas; University of Portsmouth |
| presented by: Panagiotis Tzouvanas, University of Portsmouth |
| Temperature and Growth: seasonal and non-linear effects using NUTS2 data |
| By Andrea Cipollini; University of Palermo Fabio Parla; University of Palermo |
| presented by: Fabio Parla, University of Palermo |
| A spatio-temporal convergence analysis of agricultural emissions in the European regions and the role of the Common Agricultural Policy |
| By Paolo Maranzano; University of Milano-Bicocca Caterina Morelli; Università di Milano-Bicocca Simone Boccaletti; Catholic university of the sacred heart |
| presented by: Paolo Maranzano, University of Milano-Bicocca |
| Session 22: CLIMATE ECONOMICS 2 January 17, 2025 8:30 to 10:00 Location: 2005 |
| Temptation in environmental problems |
| [slides] |
| By Hisashi Nakamura; Hitotsubashi University |
| presented by: Hisashi Nakamura, Hitotsubashi University |
| Climate Change and Economic Growth: Evidence from a Growth at Risk Model of Indonesia |
| By Paresh Narayan; Monash University Seema Narayan; Monash University Yoga Affandi; Bank Indonesia Danny Hermawan; Bank Indonesia |
| presented by: Danny Hermawan, Bank Indonesia |
| Can China’s Carbon Emissions Trading System Promote Green Innovation? An Empirical Analysis Based on a Staggered DID Approach |
| By Mengyuan CAI; Nanyang Technological University |
| presented by: Mengyuan CAI, Nanyang Technological University |
| Cap and (Frictional) Trade vs. Carbon Tax |
| By Kuk Mo Jung; Sogang University, Korea |
| presented by: Kuk Mo Jung, Sogang University, Korea |
| Session 23: GEOPOLITICAL AND CLIMATIC RISK January 17, 2025 8:30 to 10:00 Location: 2006 |
| From Climate to Economy: Understanding Climate Risks in the U.S. Market |
| By Maria Francisca Carvalho; Lancaster University |
| presented by: Maria Francisca Carvalho, Lancaster University |
| Geopolitical Uncertainty and Defense Innovation: Implications for Military Expenditure and R&D Investments |
| By Fabio Anobile; Università LUM Alberto Costantiello; Università LUM Lucio Laureti; Università LUM Marco Matarrese; Università LUM |
| presented by: Fabio Anobile, Università LUM |
| ESG Performance and Stock Market Responses to Geopolitical Turmoil: evidence from the Russia-Ukraine War |
| By Simone Boccaletti; Università di Milano-Bicocca Paolo Maranzano; Università di Milano-Bicocca Caterina Morelli; Università di Milano-Bicocca Elisa Ossola; Università di Milano-Bicocca |
| presented by: Elisa Ossola, Università di Milano-Bicocca |
| The role of geopolitical and climate risk in driving uncertainty in European electricity markets |
| By Elisabetta Pellini; Bayes Business School (formerly Cass) Peter Cincinelli; University of Bergamo |
| presented by: Elisabetta Pellini, Bayes Business School (formerly Cass) |
| Session 24: GREEN TRANSITION January 17, 2025 8:30 to 10:00 Location: 2004 |
| Net Zero: Distributional Effects and the Role of Fiscal Policy in the Green Transition |
| By Alessandro Sardone; Halle Institute for Economic Research (IWH) |
| presented by: Alessandro Sardone, Halle Institute for Economic Research (IWH) |
| Fiscal policy strategies to foster energy transition for Saudi Arabia using macro-econometric modeling framework |
| By fakhri hasanov; kapsarc Heyran Aliyeva; kapsarc Majed Almozaini; kapsarc Carlo Andrea Bollino; Università di Perugia |
| presented by: Carlo Andrea Bollino, Università di Perugia |
| Renewable Energy Adoption Across Business Cycles: The Impact of Economic Fluctuations and Policy Stringency |
| By João Jalles; University of Lisbon |
| presented by: João Jalles, University of Lisbon |
| Green Technology Adoption over the Life Cycle |
| By Francesca Crucitti; European Commission Alex Michaelides; Imperial College London A Ostrovnaya; Imperial College London |
| presented by: Francesca Crucitti, European Commission |
| Session 25: Coffee Break January 17, 2025 10:00 to 10:30 Location: Milling Area (2nd floor) |
| Session 26: BANK OF ENGLAND POLICY SESSION: Climate Change, the Macroeconomy and Monetary Policy. James Talbot (Bank of England). Chair: Barbara Casu (Bayes Business School) January 17, 2025 10:30 to 11:30 Location: LG001 |
| Session 27: Keynote Session 3: Mirror, Mirror on the Wall, Who's the Greenest of Us All? Robert Engle (Stern School of Business, New York University). Chair: Huw Pill (Bank of England) January 17, 2025 11:30 to 12:30 Location: LG001 |
| Session 28: Lunch January 17, 2025 12:30 to 13:30 Location: Milling Area (2nd floor) |
| Session 29: BAYES SPECIAL SESSION: CLIMATE CHANGE AND THE STOCK MARKETS. Chair: Richard Payne (Bayes Business School) January 17, 2025 13:30 to 15:00 Location: 2002 |
| Climate change laws and European stock markets: an event analysis |
| By Theodoros Bratis; Athens University of Economics and Business Georgios Kouretas; Athens University of Economics and Business Evangelos Salachas; Athens University of Economics and Business |
| presented by: Theodoros Bratis, Athens University of Economics and Business |
| Corporate decarbonisation targets, stock performance, and investment |
| By Shifu Jiang; Hong Kong Monetary Authority |
| presented by: Shifu Jiang, Hong Kong Monetary Authority |
| Assessing Global Spillovers of Climate Risks on Stock Market Volatility |
| By EVANGELOS SALACHAS; UNIVERSITY OF THE AEGEAN Georgios Kouretas; Athens University of Economics and Busin Nikiforos Laopodis; The American College of Greece Theodoros Bratis; Athens University of Economics and Business |
| presented by: EVANGELOS SALACHAS, UNIVERSITY OF THE AEGEAN |
| Climate change risk pricing in the European stock market |
| By Nuno Cassola; University of Lisbon e CefES, Università di Milano-Bicocca Claudio Morana; Università di Milano-Bicocca Elisa Ossola; Università di Milano-Bicocca |
| presented by: Nuno Cassola, University of Lisbon e CefES, Università di Milano-Bicocca |
| Session 30: CLIMATE AND MACRO-FINANCIAL INSTABILITY January 17, 2025 13:30 to 15:00 Location: 2003 |
| Global Food Price Shocks: Pass-throughs and Fiscal Policy Strategies for Climate Vulnerable Countries |
| By Fulvia Marotta; University of Oxford Mathias Weidinger; University of Oxford Jasper Verschuur; TU Delft |
| presented by: Mathias Weidinger, University of Oxford |
| Impact of Climate Risk on Fiscal Space: Does Political Stability and Financial Development Matter? |
| By Jamel Saadaoui; University Paris 8 |
| presented by: Jamel Saadaoui, University Paris 8 |
| Dual-pillar policy frameworks and financial cycle fluctuation: Evidence from MS-VAR analysis |
| By Yanhao Ma; University of Leeds Muhammad Ali Nasir; University of Leeds Ali Raza; University of Leeds |
| presented by: Yanhao Ma, University of Leeds |
| Detecting green bubbles |
| By Zhuangyan Li; Bayes Business School (formerly Cass) Elisabetta Pellini; Bayes Business School (formerly Cass) Giovanni Urga; Bayes Business School (formerly Cass) |
| presented by: Giovanni Urga, Bayes Business School (formerly Cass) |
| Session 31: CLIMATE AND MACROECONOMIC POLICY January 17, 2025 13:30 to 15:00 Location: 2005 |
| The Role of Information Provision for Sustainable Investing |
| By Jennifer Brunne |
| presented by: Jennifer Brunne, |
| Semiparametric analysis of Climate Policy: the EU ETS pricing mechanism |
| [slides] |
| By Massimiliano Mazzanti; Università di Ferrara & SEEDS' Antonio Musolesi; Università di Ferrara Juan Rodriguez Poo; Cantabria University Alexandra Soberon; Universidad de Cantabria. CIF: ES Q3918001-C |
| presented by: Massimiliano Mazzanti, Università di Ferrara & SEEDS' |
| Mitigating Policies for Pollutant Emissions in a DSGE for the Brazilian Economy |
| [slides] |
| By Marcos Valli Jorge; Central Bank of Brazil Angelo Fasolo; Banco Central do Brasil Silvio Costa; Banco Central do Brasil |
| presented by: Marcos Valli Jorge, Central Bank of Brazil |
| Green Transition and Monetary Policy in an Estimated Macro-Climate Model |
| By Sofia Semik; Goethe University Frankfurt |
| presented by: Sofia Semik, Goethe University Frankfurt |
| Session 32: CLIMATE FINANCE 3 January 17, 2025 13:30 to 15:00 Location: 2004 |
| Insurance Pricing Model Tackling Profile-Price Risk for Wind Power PPA Sellers Based on Meteorological Analysis |
| By Qian Cheng |
| presented by: Qian Cheng, |
| Modeling facility-level emissions data in corporate finance: A cautionary tale |
| By Danilo V. Mascia; University of Leeds Enrico Onali; University of Bristol |
| presented by: Enrico Onali, University of Bristol |
| The Effects of a Large Energy Price Shock on Firm Credit |
| By Niels Møller; Danmarks Nationalbank Johannes Pöschl Ketelsen; Danmarks Nationalbank |
| presented by: Johannes Pöschl Ketelsen, Danmarks Nationalbank |
| Deriving market expectations of global warming from commodity prices |
| By Joseph Noss; Kings College, London |
| presented by: Joseph Noss, Kings College, London |
| Session 33: TRANSITION AND GEOPOLITICAL RISK (HYBRID SESSION) January 17, 2025 13:30 to 15:00 Location: 2006 |
| Session Chair: Nataliia Bychkova, Amherst College and Odesa I. I. Mechnikov National University |
| Are you betting on sustainability? |
| By Fabio Franceschini; University of Bologna |
| presented by: Fabio Franceschini, University of Bologna |
| Central Banks, Climate Risks, and Energy Transition – A Dynamic Macro Model and Econometric Evidence |
| By Willi Semmler; New School NY, University of Bielefeld |
| presented by: Willi Semmler, New School NY, University of Bielefeld |
| War, governance, and resilience: Lessons from the Russia-Ukraine war |
| By Ruslana Kuzina; KU Luven |
| presented by: Ruslana Kuzina, KU Luven |
| The role of Institutional investors in postwar reconstruction of Ukraine |
| By Nataliia Bychkova; Amherst College and Odesa I. I. Mechnikov National University |
| presented by: Nataliia Bychkova, Amherst College and Odesa I. I. Mechnikov National University |
| Session 34: Coffee Break January 17, 2025 15:00 to 15:30 Location: Milling Area (2nd floor) |
| Session 35: Keynote Session 4: The Economics of Biodiversity Loss. Stefano Giglio (Yale University). Chair: Francesco P. Mongelli (European Central Bank) January 17, 2025 15:30 to 16:30 Location: LG001 |
| Session 36: Keynote Session 5: Technical Progress and the Climate Crisis. Marcin Kacperczyk (Imperial College Business School). Chair: Giovanni Urga (Bayes Business School) January 17, 2025 16:30 to 17:30 Location: LG001 |
| Session 37: Adjourn January 17, 2025 17:30 to 17:40 Location: LG001 |
This program was last updated on 2025-01-22 13:49:28 EDT