Climate risk and commodity currencies

Arbeitspapier

The positive relationship between real exchange rates and natural resource income is well understood and studied. However, climate change and the transition to a lower-carbon economy now challenges this relationship. We document this by proposing a novel news media-based measure of climate change transition risk and show that when such risk is high, major commodity currencies experience a persistent depreciation and the relationship between commodity price fluctuations and currencies tends to become weaker.

Angaben zum Objekt

• ISBN: 978-82-8379-181-5
• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: Working Paper ; No. 18/2020

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Bayesian Analysis: General ; Forecasting Models; Simulation Methods ; Search; Learning; Information and Knowledge; Communication; Belief; Unawareness ; Expectations; Speculations ; General Aggregative Models: Neoclassical ; Price Level; Inflation; Deflation ; Prices, Business Fluctuations, and Cycles: Forecasting and Simulation: Models and Applications
• Thema: Exchange Rates ; Climate ; Risk ; Commodities

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Kapfhammer, Felix ; Larsen, Vegard Høghaug ; Thorsrud, Leif Anders
• Ereignis: Veröffentlichung
• (wer): Norges Bank
• (wo): Oslo
• (wann): 2020

Weitere Informationen

• Handle: http://hdl.handle.net/10419/246121
• Letzte Aktualisierung: 10.03.2025, 11:44 MEZ