Climate Change Scenario Analysis for Public Market Investors

Academic studies suggest that market participants are demanding higher risk premiums for carbon‐intensive assets, but that natural disasters have yet to be efficiently priced into the market. And as a consequence, asset owners and investors are less than fully informed about the evidence of climate change uncovered by the scientific community. The author assesses the exposure to climate risk of Rockefeller Capital's ‘Ocean Strategy,” an actively managed global equity portfolio, by using three publicaly available climate change scenario analysis tools: (1) Paris Agreement Capital Transition Assessment (PACTA); The Transition Pathway Initiative (TPI), and (3) Carbon Tracker's 2 Degrees of Separation.     

Mobile voice diffusion and service competition: A system dynamic analysis of regulatory policy

Dynamic behavior in mobile telecommunications markets is often the result of interactions between market actors. As the structure and dynamic complexity of such interactions tend to be difficult to identify, it is challenging for regulators to anticipate the effects of their policy decisions. This article uses system dynamics to evaluate the effect of technology harmonization and mobile number portability policies on mobile voice diffusion and service competition. This is realized by first modeling the endogenous feedback structure resulting in dynamic behavior in the mobile telecommunications market and then by configuring the model for retrospective simulations of the Finnish market. Based on the retrospective simulations, the effect of technology harmonization and mobile number portability policy decisions is analyzed and the usefulness of system dynamics is demonstrated.     

The great Canadian recovery: The impact of COVID-19 on Canada's labour market

The Canadian labour market experienced a period of unprecedented turmoil following the onset of the COVID-19 pandemic. We analyze the main changes using standard labour force statistics and new data on job postings. Envisaging a phase of temporary severing of employment relationships followed by a phase of more standard labour market search and matching, we use stock and flow data to understand key developments. We find dramatic changes in employment, unemployment and labour market attachment in the first few months of the pandemic and a broad though gradual recovery through to the end of 2021.