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Dekanat

Vortrag | Assistenz Prof. Dr. Ole Wilms (Universität Hamburg) | Asset Pricing with Disagreement about Climate Risks

Vortrag im Rahmen des Finance and Insurance Seminars
Dienstag, 13. Dezember 2022 - 16:15, JUR 253, Universitätsstraße 14-16, 48143 Münster

Der Vortrag von Assistenz Prof. Dr. Ole Wilms findet leider nicht statt und wird verschoben. Ein Alternativtermin wird zeitnah bekanntgegeben.

Assistenz Prof. Dr. Ole Wilms (Professor für VWL, insb. Makroökonomik und Fiskalpolitik, Universität Hamburg) spricht im Rahmen des Finance and Insurance Seminars zum Thema:

Asset Pricing with Disagreement about Climate Risks

Abstract: "This paper presents an asset-pricing model with heterogeneous beliefs regarding the impacts of climate change. Investors disagree on the likelihood of climate-induced disaster risks that could destroy a large fraction of consumption. The model jointly explains several findings that have been established in the empirical literature on climate finance. That is, (i) news about climate change can be hedged in financial markets, (ii) the share of green investors has significantly increased over the past decade, (iii) investors require a positive, although small, climate-risk premium for holding “brown" assets, and (iv) “green" stocks have outperformed brown stocks during the past decade. Furthermore, the model may explain why investments to mitigate climate change have been small in the past. Finally, the model predicts that the marginal gain from carbon reducing investments as well as the carbon premium should increase significantly if the rise in global temperature continues."

Im Wintersemester 22/23 wird das Finance and Insurance Seminar in Präsenz durchgeführt. Für Interessierte wird ein Zoom Meeting angeboten. Die Zugangsdaten werden auf Anfrage mitgeteilt. Bitte senden Sie hierzu bis zum 13. Dezember, 12:00 Uhr, eine Nachricht an: alvia.runge@wiwi.uni-muenster.de