Time to Stop Rolling Dice: Why Bigger is Better in Climate Investments

Earlier investments make large-scale emission reductions easier to do over time because their unit costs drop
Everyone recognizes that the costs of automobiles, washers, jet planes, and hundreds of other products usually drop with mass production. Most products get cheaper when they stream out of workplaces not by the dozens, but by the tens of thousands, or even millions.

Real effects of credit supply shocks: evidence from Danish banks, firms, and workers

Contractions in credit supply can lead firms to reduce their level of employment, yet little is known about how these shocks affect the composition of firms’ employees and outcomes at the worker level. This paper investigates how bank distress affects credit provision and its effects on employment beyond firm-level aggregates. To do so, we use a novel dataset built from administrative and tax records linking all banks, firms, and workers in Denmark.

Banks and non-banks stressed: liquidity shocks and the mitigating role of insurance companies

This paper documents the extension of the system-wide stress testing framework of the ECB with the insurance sector for a more thorough assessment of risks to financial stability. The special nature of insurers is captured by the modelling of the liability side and its loss absorbing capacity of technical provisions as the main novel feature of the model.

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