The meeting is co-organised with the Federal Reserve Bank of Boston, Harvard Business School, and the Harvard Business School Pricing Lab, and will take place at the Federal Reserve Bank of Boston and Harvard Business School from 6 to 8 August 2025.
While the global macroeconomic effects of extreme weather events – such as floods, droughts, heat waves and storms – have remained limited to date, partly due to their localised impacts and the reliance (primarily in advanced economies) on insurance as a risk mitigation tool, historical experience may not adequately predict their future impact. Uncertainties around the timing, magnitude, non-linearity and spillover effects of extreme weather events, as well as potential mispricing or mismanagement of associated risks, complicate assessments of their impact on the economy and the financial system.
The financial effects of extreme weather events are growing, and a greater understanding is needed of how those effects propagate though the financial system compared to conventional financial shocks. The increasing magnitude of economic losses from these events may impact institutions’ ability to continue to provide financial services in certain segments and geographies. Because of this, there is a growing need to assess the potential risks to financial stability from a forward-looking perspective.
We invite authors to submit papers analysing and providing insights on the direct and indirect impacts of extreme weather events on the financial system. Papers that explore the cross-border and cross-sectoral transmission of such events, and their risk implications for financial institutions, are particularly welcome.
Papers should be submitted on the CEBRA website by 20 March 2025.
