Physical climate risks significantly influence banks' collateral practices. Drawing on comprehensive loan-level data from Sweden, we find that adverse weather events increase both the likelihood and the amount of collateral required for new loans. For existing loans, banks are less inclined to...

We propose a nonparametric framework for estimating the extremal index that captures the persistence of extreme observations. The framework provides unified and simple procedures for verifying the well-known local dependence condition D(ᵈ) (un), which characterizes the extremal index yet is...

This study systematically reviews the literature that quantifies the economic benefits of weather observations and forecasts in four weather-dependent economic sectors: agriculture, energy, transport, and disaster-risk management. The review covers 175 peer-reviewed journal articles and 15...

Climate change impacts are intensifying worldwide, with the harshest consequences borne by vulnerable developing countries that face high exposure and limited capacity to adapt. Although international agreements commit wealthy donor countries to provide adaptation finance, actual transfers...

In this paper, we provide evidence on the impact of global seasonal temperature shocks on global food commodity prices. Utilizing monthly data from 1961 to 2023, we find an economically and statistically highly significant, longer-lasting positive impact of summer temperature shocks on global...

Weather variability disrupts food grain production and agricultural sustainability. While existing literature highlights the stationary relationship between weather variables and agricultural outcomes, it often overlooks their bearing on land use changes. This study investigates the dynamic...

We examine how the macroeconomic effects of temperature shocks have evolved in the United States since 1947. Using a time-varying parameter vector autoregression with stochastic volatility estimated on monthly data, we document a structural shift in the propagation of temperature shocks. Before...

This study investigates the impact of temperature shocks on prices and output for the ASEAN+3 countries, using annual data for the 1990-2023 period. Based on the panel SVAR framework, the empirical evidence indicates that temperature shocks, which can be considered as negative supply shocks,...

This paper uses cross-sectional surveys of households over 2007-21 from Thailand's Socio-Economic Expenditure Survey to conduct one of the first investigations of the impacts of climatic variability on two key statistics characterizing the distribution of welfare in Thailand: the mean and the...

This paper provides novel evidence of the impact of temperature fluctuations on retirement behavior and underlying mechanisms, combining 30 years of rich longitudinal survey data with granular daily weather information. Exposure to cold and hot temperatures accelerates transitions into...

This paper provides novel evidence of the impact of temperature fluctuations on retirement behavior and underlying mechanisms, combining 30 years of rich longitudinal survey data with granular daily weather information. Exposure to cold and hot temperatures accelerates transitions into...