This chapter deals with the dynamic relationship between term and credit spreads within a framework that incorporates regime shifts. Through the estimation of an asymmetric Markov-Switching Vector Equilibrium Correction Model (MS-VECM), comprising the short- and the long-term risk-free rate and...

The main pillars of climate policy are adaptation to and mitigation of climate change. The primary objective of adaptation policies - in turn - is to make adjustments in ecological, social, or economic systems that prevent adverse impacts (like losses in agricultural yields) of climate change or...