Chikhani, Pauline; Renne, Jean-Paul - In: Quantitative economics : QE ; journal of the … 16 (2025) 4, pp. 1093-1146
This paper uses a tractable stochastic integrated‐assessment model to analyze the influence of climate change on asset returns across time and maturity. Quasi‐analytical, or recursive, formulas allow to price various long‐dated assets, including fixed‐income products, derivatives, and...