Irene Monasterolo

Boston University

595 Commonwealth Avenue

Boston, MA 02215

United States

Vienna University of Economics and Business

Assistant Professor of Climate economics and finance

Welthandelsplatz 1

Vienna, Wien 1020

Austria

  • Boston University

  • Vienna University of Economics and Business

SCHOLARLY PAPERS

21

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4,333

SSRN CITATIONS
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58

CROSSREF CITATIONS

16

Scholarly Papers (21)

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1.

The Climate Spread of Corporate and Sovereign Bonds

Number of pages: 33 Posted: 07 May 2019 Last Revised: 17 Sep 2020
Stefano Battiston and Irene Monasterolo
University of Zurich - Department of Banking and Finance and Boston University
Downloads 880 (32,174)
Citation 6

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Climate transition risk, financial pricing models, deep uncertainty, sovereign bonds, climate spread, prudential regulation

2.

CLIMAFIN Handbook: Pricing Forward-Looking Climate Risks Under Uncertainty

Number of pages: 31 Posted: 08 Nov 2019
Stefano Battiston, Antoine Mandel and Irene Monasterolo
University of Zurich - Department of Banking and Finance, Université Paris I Panthéon-Sorbonne and Boston University
Downloads 665 (47,133)
Citation 7

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CLIMAFIN, forward-looking climate transition risk, climate deep uncertainty, financial contracts, financial pricing models, Climate Spread, Climate Value at Risk, Climate Stress-test

3.

Climate Change and the Financial System

Downloads 542 ( 61,173)
Citation 4

Climate Change and the Financial System

Number of pages: 24 Posted: 12 Nov 2019 Last Revised: 13 Jan 2020
Irene Monasterolo
Boston University
Downloads 542 (60,496)
Citation 4

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Climate risks, financial risk, carbon stranded assets, financial stability, climate policies, Climate Value at Risk, Climate Spread, Climate Stress-test

Climate Change and the Financial System

Annual Review of Resource Economics, Vol. 12, Issue 1, pp. 299-320, 2020
Posted: 26 Oct 2020
Irene Monasterolo
Boston University

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4.

Blind to Carbon Risk? An Analysis of Stock Market’s Reaction to the Paris Agreement

Number of pages: 19 Posted: 27 Dec 2018 Last Revised: 29 Oct 2019
Irene Monasterolo and Luca De Angelis
Boston University and University of Bologna - Department of Economics
Downloads 339 (106,650)
Citation 15

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asset pricing, Paris Agreement announcement, low-carbon indices, carbon-intensive indices, systematic risk, Markowitz’s portfolio optimization, market model, Fama-French five-factor model, risk-adjusted return, stranded assets

5.

On the Dependence of Investor’s Probability of Default on Climate Transition Scenarios

Number of pages: 25 Posted: 09 Mar 2021
Stefano Battiston and Irene Monasterolo
University of Zurich - Department of Banking and Finance and Boston University
Downloads 274 (134,451)

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Climate transition risk, climate policy scenarios, probability of default, corporate bonds, Expected Shortfall, climate financial risk assessment, risk management

6.

A Financial Macro-Network Approach to Climate Policy Evaluation

Number of pages: 57 Posted: 21 Nov 2017 Last Revised: 18 Apr 2018
Veronika Stolbova, Irene Monasterolo and Stefano Battiston
University of Zurich, Department of Banking and Finance, Boston University and University of Zurich - Department of Banking and Finance
Downloads 227 (161,322)
Citation 9

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financial networks, feedback loops, climate policies, shock transmission channels, indirect effects, low-carbon transition

7.

Is There a Role for Central Banks in the Low-Carbon Transition? A Stock-Flow Consistent Modelling Approach

Number of pages: 32 Posted: 27 Nov 2017
Irene Monasterolo and Marco Raberto
Boston University and Università degli Studi di Genova - DIME - Department of Mechanics, Energetics, Management and Transportation
Downloads 196 (185,099)
Citation 4

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central banks, green Quantitative Easing, green sovereign bonds, Stock-Flows Consistency, financial stability, inequality

8.

Climate Risks and Financial Stability

Number of pages: 13 Posted: 08 Feb 2021
Stefano Battiston, Yannis Dafermos and Irene Monasterolo
University of Zurich - Department of Banking and Finance, SOAS University of London and Boston University
Downloads 169 (210,810)
Citation 1

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climate change, financial stability, climate policies, financial instruments, network models, stock-flow consistent models, agent based models, empirical finance.

9.

Climate Transition Risk, Climate Sentiments, and Financial Stability in a Stock-Flow Consistent Approach

Number of pages: 65 Posted: 06 Apr 2020
Nepomuk Dunz, Asjad Naqvi and Irene Monasterolo
WU Vienna, Vienna University of Economics and Business and Boston University
Downloads 169 (211,852)
Citation 12

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Climate sentiments, climate transition risk, credit market, green supporting factor, carbon tax, financial stability, Stock-Flow Consistent modelling

10.

Climate-Finance and Climate Transition Risk: An Assessment of China's Overseas Energy Investments Portfolio

Number of pages: 27 Posted: 18 Apr 2018
Irene Monasterolo, Jiani I. Zheng and Stefano Battiston
Boston University, University of Zurich - Department of Banking and Finance and University of Zurich - Department of Banking and Finance
Downloads 154 (228,008)
Citation 1

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Overseas Energy Fi nance, Climate Transition Risk, Climate Policy Scenarios, Climate Stress-Test, Climate VaR, Climate- Finance

11.

The Climate Target Gap Is Widening. Can We Close It by Including Climate Finance in SSPs?

Number of pages: 5 Posted: 05 Nov 2018 Last Revised: 06 Jun 2019
Stefano Battiston and Irene Monasterolo
University of Zurich - Department of Banking and Finance and Boston University
Downloads 143 (242,205)
Citation 3

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Climate Finance, Climate Change, Socio-Economic Shared Pathways, Integrated Assessment Model, Climate Finance Risk Metrics

12.

Macroeconomic and Financial Impacts of Compounding Pandemics and Climate Risks

Number of pages: 20 Posted: 19 Apr 2021
Nepomuk Dunz, Andrea Mazzocchetti, Irene Monasterolo, Arthur Hrast Essenfelder and Marco Raberto
WU Vienna, Ca' Foscari University of Venice, Boston University, Ca Foscari University of Venice and Università degli Studi di Genova - DIME - Department of Mechanics, Energetics, Management and Transportation
Downloads 131 (260,992)

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Climate physical risk, COVID-19, compound risk, credit market constraints, public spending effectiveness, debt sustainability

13.

Vulnerable Yet Relevant: The Two Dimensions of Climate-Related Financial Disclosure

Number of pages: 10 Posted: 23 May 2017
Irene Monasterolo, Stefano Battiston, Anthony Janetos and Zoey Zheng
Boston University, University of Zurich - Department of Banking and Finance, Boston University and Boston University
Downloads 130 (260,992)
Citation 12

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GHG exposure index, GHG holding index, market-based solutions, climate change, climate-risk disclosure

14.

Reducing Climate Transition Risk in Central Banks’ Asset Purchasing Programs

Number of pages: 18 Posted: 12 Mar 2021
Giacomo Bressan, Irene Monasterolo and Stefano Battiston
WU Vienna University of Economics and Business, Boston University and University of Zurich - Department of Banking and Finance
Downloads 122 (275,383)

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central banks, market neutrality, asset purchase, climate transition risk, corporate bonds, portfolio's climate exposure

15.

Climate Sentiments in the Financial Sector: How Financial Markets, Policies and Regulations Generate Barriers and Opportunities to Align Portfolios to Sustainability

Number of pages: 20 Posted: 03 Aug 2020
Irene Monasterolo, Natalie Glas and Sabine Kunesch
Boston University, Environment Agency Austria and Environment Agency Austria
Downloads 74 (380,260)

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climate-related financial risks, carbon risks, transition risks, climate sentiments, sustainable finance, knowledge co-production, barriers, engagement, divestment, EU Green Deal, EU Action Plan on Sustainable Finance

16.

Enabling or Hampering? Climate Risk and the Role of Finance in the Low-Carbon Transition

Number of pages: 6 Posted: 22 Feb 2021
Stefano Battiston, Irene Monasterolo, Jihoon Min, Keywan Riahi and Bas van Ruijven
University of Zurich - Department of Banking and Finance, Boston University, International Institute for Applied Systems Analysis (IIASA), International Institute for Applied Systems Analysis (IIASA) and International Institute for Applied Systems Analysis (IIASA)
Downloads 46 (474,011)

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climate transition risk, carbon price, climate finance, climate economic models, disorderly transition scenarios.

17.

Climate Mitigation Pathways Need To Account for the Ambivalent Role of Finance

Number of pages: 10 Posted: 08 Feb 2021
Stefano Battiston, Irene Monasterolo, Keywan Riahi and Bas van Ruijven
University of Zurich - Department of Banking and Finance, Boston University, International Institute for Applied Systems Analysis (IIASA) and International Institute for Applied Systems Analysis (IIASA)
Downloads 43 (514,164)
Citation 2

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climate finance, financial risk, mitigation scenarios, energy technology, systemic risk, integrated climate financial risk assessment

18.

The Importance of Compound Risk in the Nexus of Covid-19, Climate Change and Finance

Downloads 29 (555,849)
Citation 1

The Importance of Compound Risk in the Nexus of Covid-19, Climate Change and Finance

Number of pages: 8 Posted: 07 Jan 2021
Irene Monasterolo, Monica Billio and Stefano Battiston
Boston University, Ca Foscari University of Venice - Dipartimento di Economia and University of Zurich - Department of Banking and Finance
Downloads 29 (571,104)
Citation 1

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COVID-19, climate change, financial interconnectedness, compound risk, loss amplification, resilience policies

The Importance of Compound Risk in the Nexus of COVID-19, Climate Change and Finance

Posted: 08 Jun 2020 Last Revised: 25 Jun 2020
Irene Monasterolo, Monica Billio and Stefano Battiston
Boston University, Ca Foscari University of Venice - Dipartimento di Economia and University of Zurich - Department of Banking and Finance

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pandemic, climate change, climate finance, financial risk, compound risk

19.

Climate Transition Risk and Development Finance: A Carbon Risk Assessment of China's Overseas Energy Portfolios

China & World Economy, Vol. 26, Issue 6, pp. 116-142, 2018
Number of pages: 27 Posted: 15 Nov 2018
Irene Monasterolo, Jiani I. Zheng and Stefano Battiston
Boston University, University of Zurich - Department of Banking and Finance and University of Zurich - Department of Banking and Finance
Downloads 0 (778,843)
Citation 2
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climate‐finance, climate policy scenarios, climate stress‐test, climate transition risk, climate VaR, energy infrastructure loans

20.

Fossil Fuels versus Green Subsidies: A Stock-Flows Consistent Model of Public Policies for the Low-Carbon Transition

Posted: 08 Jun 2017
Irene Monasterolo and Marco Raberto
Boston University and Università degli Studi di Genova - DIME - Department of Mechanics, Energetics, Management and Transportation

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Flow-fund behavioural model, Stock-Flow Consistency, fossil fuels subsidies, green fiscal measures, green sovereign bonds, distributive effects

21.

A Climate Stress-Test of the Financial System

Battiston, S., Mandel, A., Monasterolo, I., Schütze, F., & Visentin, G. (2017). A Climate stress-test of the financial system. Nature Climate Change, 7(4), 283–288. https://doi.org/doi:10.1038/nclimate3255
Posted: 03 Feb 2016 Last Revised: 11 Sep 2020
Stefano Battiston, Antoine Mandel, Irene Monasterolo, Franziska Schuetze and Gabriele Visentin
University of Zurich - Department of Banking and Finance, Université Paris I Panthéon-Sorbonne, Boston University, DIW Berlin and University of Zurich - Institute of Mathematics

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climate stress-test, climate policy risk, decarbonization, stress-test, stranded assets, carbon risk, climate-sensitive sectors