Working Paper
Monetary policy under alternative exchange-rate regimes: simulations with a multi-country model
Stevens, Guy V. G.; Clark, Peter K.; Berner, Richard; Kwack, Sung Y.; Howe, Howard; Hernandez-Cata, Ernesto (1979)
International Finance Discussion Papers , Paper 130

Report
CRISK: Measuring the Climate Risk Exposure of the Financial System
Jung, Hyeyoon; Berner, Richard; Engle, Robert (2021-09-01)
We develop a market-based methodology to assess banks’ resilience to climate-related risks and study the climate-related risk exposure of large global banks. We introduce a new measure, CRISK, which is the expected capital shortfall of a bank in a climate stress scenario. To estimate CRISK, we construct climate risk factors and dynamically measure banks’ stock return sensitivity (that is, climate beta) to the climate risk factor. We validate the climate risk factor empirically and the climate beta estimates by using granular data on large U.S. banks’ loan portfolios. The measure is ...
Staff Reports , Paper 977

Working Paper
On testing the significance of a subset of coefficients in a set of seemingly unrelated regressions using mixed estimation
Swamy, P. A. V. B.; Berner, Richard (1977)
International Finance Discussion Papers , Paper 106

Working Paper
Total import and gross output demands in the context of a multisector general equilibrium model
Berner, Richard (1976)
International Finance Discussion Papers , Paper 88

Working Paper
Simultaneous determination of the U.S. balance of payments and exchange rates: an exploratory report
Stevens, Guy V. G.; Clark, Peter K.; Berner, Richard; Kwack, Sung Y.; Howe, Howard (1975)
International Finance Discussion Papers , Paper 59

Report
Climate Stress Testing
Acharya, Viral V.; Berner, Richard; Engle, Robert; Jung, Hyeyoon; Stroebel, Johannes; Zeng, Xuran; Zhao, Yihao (2023-04-01)
We explore the design of climate stress tests to assess and manage macro-prudential risks from climate change in the financial sector. We review the climate stress scenarios currently employed by regulators, highlighting the need to (i) consider many transition risks as dynamic policy choices; (ii) better understand and incorporate feedback loops between climate change and the economy; and (iii) further explore “compound risk” scenarios in which climate risks co-occur with other risks. We discuss how the process of mapping climate stress scenarios into financial firm outcomes can ...
Staff Reports , Paper 1059

Working Paper
Modeling bilateral exchange rates in a multi-country model
Tryon, Ralph W.; Stevens, Guy V. G.; Clark, Peter K.; Berner, Richard; Hooper, Peter; Howe, Howard; Hernandez-Cata, Ernesto; Kwack, Sung Y. (1980)
International Finance Discussion Papers , Paper 163

Working Paper
Modeling the international influences on the U.S. economy: a multi- country approach
Stevens, Guy V. G.; Clark, Peter K.; Berner, Richard; Kwack, Sung Y.; Howe, Howard (1976)
International Finance Discussion Papers , Paper 93

Working Paper
Estimating consumer import demand equations
Berner, Richard (1977)
International Finance Discussion Papers , Paper 105

Working Paper
A multi-country model of the international influences on the U.S. economy: preliminary results
Stevens, Guy V. G.; Clark, Peter K.; Berner, Richard; Kwack, Sung Y.; Howe, Howard; Hernandez-Cata, Ernesto (1977)
International Finance Discussion Papers , Paper 115