Das Verbundforschungsvorhaben untersuchte regional differenzierte Änderungen agrarrelevanter Extremwetterlagen in Deutschland und deren Auswirkungen auf die Landwirtschaft einschließlich Sonderkulturen und Forstwirtschaft. Auswertungen der Stationsdaten von 1961 bis 2013 des Deutschen...

We address the paradox that financial innovations aimed at risk-sharing appear to have made the world riskier. Financial innovations facilitate hedging idiosyncratic risks among agents; however, aggregate risks can be hedged only with liquid assets. When risk-sharing is primitive, agents...

We explore the design of climate stress tests to assess and manage macro-prudential risks from climate change in the financial sector. We review the climate stress scenarios currently employed by regulators, highlighting the need to (i) consider many transition risks as dynamic policy choices;...