Consumer financial resilience to climate change
CONFILIENCE
The collaborative project “Consumer Financial Resilience to Climate Change” (CONFILIENCE) aims to identify weather-related financial risks regarding the wage income of consumers.
It consists of two subprojects.
Subproject 1: Impact-oriented weather and climate services for estimating future financial risks
The first subproject links high-frequency historical weather data with employment data to measure weather effects on individual labor income.
Subproject 2: Causal effects of weather-related changes in wage income on consumer bankruptcies.
The second sub-project focuses on the impact of increasing weather risks on consumer over-indebtedness or insolvency and the role of the regional banking sector in moderating these financial risks. The results are summarized in “heat maps” on climate-related liquidity risks of consumers.
