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  <title>EconStor Collection:</title>
  <link rel="alternate" href="https://hdl.handle.net/10419/171461" />
  <subtitle />
  <id>https://hdl.handle.net/10419/171461</id>
  <updated>2026-05-07T08:42:20Z</updated>
  <dc:date>2026-05-07T08:42:20Z</dc:date>
  <entry>
    <title>Bank-advisor certification and willingness to pay for sustainable finance products</title>
    <link rel="alternate" href="https://hdl.handle.net/10419/308785" />
    <author>
      <name>Holzheu, Katharina</name>
    </author>
    <author>
      <name>Wekhof, Tobias</name>
    </author>
    <id>https://hdl.handle.net/10419/308785</id>
    <updated>2025-01-21T02:40:09Z</updated>
    <published>2025-01-01T00:00:00Z</published>
    <summary type="text">Title: Bank-advisor certification and willingness to pay for sustainable finance products
Authors: Holzheu, Katharina; Wekhof, Tobias
Abstract: We examine Swiss retail investors' willingness to pay (WTP) for sustainable finance products and the influence of bank advisor certification. In a hypothetical choice experiment with a randomized controlled trial (RCT), we assigned participants to either a priming treatment with a bank advisor certified in sustainable investing or a control group. We found a WTP between 1 and 1.5 percentage points of annual return for sustainable mutual funds, especially among financially literate investors. The presence of a certified green finance advisor further increased WTP between 0.2 and 0.8 percentage points, particularly for investors with low financial literacy.</summary>
    <dc:date>2025-01-01T00:00:00Z</dc:date>
  </entry>
  <entry>
    <title>Pricing climate risks: Evidence from wildfires and municipal bonds</title>
    <link rel="alternate" href="https://hdl.handle.net/10419/315040" />
    <author>
      <name>Woongchan, Jeon</name>
    </author>
    <author>
      <name>Barrage, Lint</name>
    </author>
    <author>
      <name>Walsh, Kieran</name>
    </author>
    <id>https://hdl.handle.net/10419/315040</id>
    <updated>2025-04-24T13:22:17Z</updated>
    <published>2025-01-01T00:00:00Z</published>
    <summary type="text">Title: Pricing climate risks: Evidence from wildfires and municipal bonds
Authors: Woongchan, Jeon; Barrage, Lint; Walsh, Kieran
Abstract: How do financial markets respond to anticipated climate-driven wildfire risk? Using high-resolution meteorological forecasts, land use data, and U.S. municipal bond spreads, we find that municipalities facing greater future wildfire exposure already incur higher borrowing costs: A one standard deviation increase in projected wildfire risk raises primary (secondary) market spreads by 14 (26) basis points - over 40% of the sample mean. Impacts are significantly larger in areas with higher minority populations and greater reliance on local revenue. Our study contributes to the broader literature by introducing a new approach to identifying the financial effects of evolving climate risks.</summary>
    <dc:date>2025-01-01T00:00:00Z</dc:date>
  </entry>
  <entry>
    <title>Warming with borders: Forced climate migration and carbon pricing</title>
    <link rel="alternate" href="https://hdl.handle.net/10419/312886" />
    <author>
      <name>Alsina-Pujols, Maria</name>
    </author>
    <id>https://hdl.handle.net/10419/312886</id>
    <updated>2025-04-24T13:22:19Z</updated>
    <published>2025-01-01T00:00:00Z</published>
    <summary type="text">Title: Warming with borders: Forced climate migration and carbon pricing
Authors: Alsina-Pujols, Maria
Abstract: As climate changes and natural disasters intensify, the threat of human displacement increases. This paper studies carbon taxation in the presence of international climate displacement. After providing evidence on the migration response to disasters, forced climate migration is introduced into a quantitative climate-macroeconomic model to theoretically characterize the global and local social cost of carbons - SCCs, equivalently, optimal carbon taxes. These change substantially when this type of migration is considered. A North-South calibration reveals that, while migration increases the local SCC in host regions-more so if political conflict is considered-the global and origin region's SCCs remain largely unaffected.</summary>
    <dc:date>2025-01-01T00:00:00Z</dc:date>
  </entry>
  <entry>
    <title>Climate change and poverty traps: Adopting an integrated model framework</title>
    <link rel="alternate" href="https://hdl.handle.net/10419/324198" />
    <author>
      <name>Leuthard, Matthias</name>
    </author>
    <id>https://hdl.handle.net/10419/324198</id>
    <updated>2025-08-23T01:29:44Z</updated>
    <published>2025-01-01T00:00:00Z</published>
    <summary type="text">Title: Climate change and poverty traps: Adopting an integrated model framework
Authors: Leuthard, Matthias
Abstract: This paper develops a tractable North-South framework with overlapping generations and endogenous growth dynamics to study poverty traps in the light of climate change. Global pollution is a negative externality of capital accumulation in both world regions, and climate change causes damages to the stock of physical capital in the more vulnerable South. Non-linearities in global pollution dynamics, in the impact and abatement functions and in the production structure give rise to critical threshold effects, possibly leading to a long-run equilibrium with persistent poverty. Climate policy in the North that aims to reduce global emissions lowers the risk of the South falling into a climate-poverty trap by mitigating climate-induced capital depreciation. This transmission channel highlights the critical role of proactive climate policy in the North in preventing climate-induced poverty traps in the capital-poor South.</summary>
    <dc:date>2025-01-01T00:00:00Z</dc:date>
  </entry>
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