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High household wealth is often cited as a key strength of the Italian economy. Both in absolute terms and relative to income, the Italian household sector is wealthier than most euro area peers. A sizable fraction of this wealth is held by the rich and upper middle classes. This paper documents...
Persistent link: https://www.econbiz.de/10012910351
policy and setting of the risk tolerance level in order to ensure consistent risk-bearing capacity and greater accountability …
Persistent link: https://www.econbiz.de/10013071922
vulnerabilities. Further, the paper presents operational issues faced by debt managers, including the need to develop a risk …
Persistent link: https://www.econbiz.de/10012918566
This paper explores three possible transmission channels for transition risk shocks to the financial system in Norway … discusses ways to advance the still evolving field of transition risk stress testing …
Persistent link: https://www.econbiz.de/10013252050
This paper builds a framework to quantify the financial stability implications of climate-related transition risk in … sectors, we assess the extent to which such policy shock would transmit from nonfinancial firms to the banking system. We … retail trade, and transportation sectors appear to be the most important in the transmission of the risk to the banking …
Persistent link: https://www.econbiz.de/10013306729
-term, risk-adjusted returns and, importantly, could lessen the potential adverse effects of the procyclical investment behavior …
Persistent link: https://www.econbiz.de/10013074694
This paper provides an overview of the strategic and operational issues as well as institutional challenges, related to the implementation of the Sovereign Asset and Liability Management (SALM) approach. Application of an SALM framework allows the authorities to identify and monitor sovereign...
Persistent link: https://www.econbiz.de/10012843498
The spread of COVID-19, containment measures, and general uncertainty led to a sharp reduction in activity in the first half of 2020. Europe was hit particularly hard—the economic contraction in 2020 is estimated to have been among the largest in the world—with potentially severe...
Persistent link: https://www.econbiz.de/10013226439
. A sensitivity analysis suggests that the COVID-19 shock will have a substantial impact on firms' profitability …
Persistent link: https://www.econbiz.de/10013249409
highlights the role that improvements in IR and debt transparency can play in improving the cost-risk tradeoff in debt management …
Persistent link: https://www.econbiz.de/10013315090