vulnerabilities. Further, the paper presents operational issues faced by debt managers, including the need to develop a risk …

The recent global financial crisis has forced a re-examination of risk transmission in the financial sector and how it … framework that helps mitigate the risk from systemic linkages with a view towards enhancing the resilience of the financial … sector. This paper presents a forward-looking framework ("Systemic CCA") to measure systemic solvency risk based on market …

Economic volatility remains a fact of life in Sub Saharan Africa (SSA). Household-level shocks create large consumption … that reducing consumption volatility would have on aggregate poverty. We then discuss coverage of consumption insurance … important source of consumption risk as two thirds of households are involved in some level of agricultural production. For …

This paper studies the role of an increase in foreign exchange reserves in reducing currency volatility for emerging … introduced in the regressions to account for other factors affecting exchange rate volatility (monetary and external indicators … exchange rate regime, since the regime can affect both the level of reserves and exchange rate volatility. The results provide …

This paper examines the impact of international financial integration on macroeconomic volatility in a large group of … industrial and developing economies over the period 1960-99. We report two major results: First, while the volatility of output … volatility of consumption growth relative to that of income growth has increased for more financially integrated developing …

This paper assesses liquidity risk for the United States (U.S.) bond mutual funds industry and performs a range of …

presented. The interaction between leverage and risk is discussed, and a modified capital adequacy ratio is calculated, which …

significant impact on market-implied sovereign default risk. This adverse effect appears to be more pronounced in advanced …

presented. The interaction between leverage and risk is discussed, and a modified capital adequacy ratio is calculated, which …

volatility. The paper provides anoverview of the recent developments in the conventional debt market. It builds an empiricaltwo … that nonresident flows are behind the observedexchange rate volatility. The results suggest that the public debt market in …