Related papers: Sovereign Debt Default and Climate Risk
Habitat loss, driven primarily by anthropogenic activity, significantly threatens ecosystem sustainability. While it is well understood that habitat loss is the leading contributor to declines in biodiversity worldwide, the connection…
This article conducts a literature review on the topic of monetary policy in developing countries and focuses on the effectiveness of monetary policy in promoting economic growth and the relationship between monetary policy and economic…
Amid China's dual-carbon transition, the synergistic alignment of green finance with green-technology innovation is pivotal for co-controlling pollution and CO2 emissions. Using panel data for 266 Chinese prefecture-level cities over…
The social cost of carbon (SCC) serves as a concise gauge of climate change's economic impact, often reported at the global and country level. SCC values are disproportionately high for less-developed, populous countries. Assessing the…
Based on the quarterly data from 26 advanced economies (AEs) and 18 emerging market economies (EMs) over the past two decades, this paper estimates the short- and medium-term impacts of financial cycles on the duration and amplitude of…
This paper presents a model that studies the impact of credit expansions arising from increases in collateral values or lower interest rate policies on long-run productivity and economic growth in a two-sector endogenous growth economy,…
In a world increasingly powered by renewables and aiming for greenhouse gas-neutral industrial production, the future competitiveness of todays top manufacturing countries is questioned. This study applies detailed energy system modeling to…
We provide ex-post empirical analysis of the effects of climate policies on carbon dioxide emissions at the aggregate national level. Our results are based on a comprehensive database of 121 countries. As climate policies we examine carbon…
Cities have become primary actors on climate change and are increasingly setting goals aimed at net-zero emissions. The rapid proliferation of subnational governments "racing to zero" emissions and articulating their own climate mitigation…
Rising CO$_2$ emissions remain a critical global challenge, particularly in middle-income countries where economic growth drives environmental degradation. This study examines the long-run and short-run relationships between CO$_2$…
In recent years, the world has become increasingly concerned with air pollution. Particularly in the global north, countries are implementing systems to monitor air pollution on a large scale to aid decision-making. Such efforts are…
The wealth of nations and the health of populations are intimately strongly associated, yet the extent to which economic prosperity (GDP per capita) causes improved health remains disputed. The purpose of this article is to analyze the…
The risk of a credit portfolio depends crucially on correlations between the probability of default (PD) in different economic sectors. Often, PD correlations have to be estimated from relatively short time series of default rates, and the…
Growing awareness of the impact of business activity on the environment increases the pressure on governing bodies to address this issue. One possibility is to encourage or force the market into green behaviours. However, it is often hard…
Over its multibillion-year history, the Earth has experienced a wide range of climates. The long-term climate is controlled by the atmospheric carbon dioxide concentration, which is regulated by marine sequestration through chemical…
Sovereign debt ratings provided by rating agencies measure the solvency of a country, as gauged by a lender or an investor. It is an indication of the risk involved in investment, and should be determined correctly and in a well timed…
The fossil-fuel induced contribution to further warming over the 21st century will be determined largely by integrated CO2 emissions over time rather than the precise timing of the emissions, with a relation of near-proportionality between…
First passage models, where corporate assets undergo a random walk and default occurs if the assets fall below a threshold, provide an attractive framework for modeling the default process. Recently such models have been generalized to…
Commuting contributes substantially to urban greenhouse gas emissions and represents a critical focus for climate mitigation efforts. This paper explores the multifaceted nature of commuting-related carbon dioxide emissions by analyzing the…
Even as policymakers seek to encourage economic development by addressing misallocation due to frictions in labor markets, the associated production externalities - such as air pollution - remain unexplored. Using a regression discontinuity…