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An Overview of the Green and Catastrophe Bond Markets
Financial markets will play a catalytic role in financing the adaptation and mitigation to climate change. Catastrophe and green bonds in the private ...
Colombian house prices have increased significantly between 2005 and 2016. This paper estimates the extent of misalignments in house prices relative t...
This paper surveys the literature on sovereign debt from the perspective of understanding how sovereign debt differs from privately issue debt, and wh...
We study a model of equilibrium sovereign default in which the government issues cocos (contingent convertible bonds) that stipulate a suspension of d...
This paper finds optimal fiscal rule parameter values and measures the effects of imposing fiscal rules using a default model calibrated to an economy...
This paper assembles a comprehensive sovereign green bond database and estimates the sovereign greenium. The development of green bond markets has bee...
Motivated by the recent European debt crisis, this paper investigates the scope for a bailout guarantee in a sovereign debt crisis. Defaults may arise...
Revisiting the Case for Debt Mutualization in the Euro Area: A Quantitative Exploration...
This paper presents a comparative analysis of the macroeconomic adjustment in Chile, Colombia, and Peru to commodity terms-of-trade shocks. The study ...
We analyze how concerns for model misspecification on the part of international lenders affect the desirability of issuing state-contingent debt instr...
We develop a tractable small-open-economy framework to characterize the constrained efficient use of the policy rate, foreign exchange (FX) interventi...
In the Mundell-Fleming framework, standard monetary policy and exchange rate flexibility fully insulate economies from shocks. However, that framework...