Greening (Runnable) Brown Assets with a Liquidity Backstop
SSRN, ISSN: 1556-5068
2021
- 8Citations
- 1,221Usage
- 16Captures
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Example: if you select the 1-year option for an article published in 2019 and a metric category shows 90%, that means that the article or review is performing better than 90% of the other articles/reviews published in that journal in 2019. If you select the 3-year option for the same article published in 2019 and the metric category shows 90%, that means that the article or review is performing better than 90% of the other articles/reviews published in that journal in 2019, 2018 and 2017.
Citation Benchmarking is provided by Scopus and SciVal and is different from the metrics context provided by PlumX Metrics.
Article Description
The momentum toward greening the economy implies transition risks that are new threats to financial stability. In particular, the expectation that other investors may exclude high carbon corporate emitters from their portfolio creates a risk of runs on brown assets. We show that runs can be contained by a liquidity backstop with an access fee that depends on the firm’s carbon intensity, while the interest rate on the liquidity lent through this facility is independent from its carbon intensity.
Bibliographic Details
http://www.scopus.com/inward/record.url?partnerID=HzOxMe3b&scp=85110983995&origin=inward; http://dx.doi.org/10.2139/ssrn.3800034; https://www.ssrn.com/abstract=3800034; https://dx.doi.org/10.2139/ssrn.3800034; https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3800034; https://ssrn.com/abstract=3800034
Elsevier BV
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