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Climate change poses an unprecedented challenge to the world economy and the global financial system. This paper sets out to understand and quantify the impact of climate mitigation, with a focus on climate-related news, which represents an important information source that investors use to...
Persistent link: https://www.econbiz.de/10015059379
Persistent link: https://www.econbiz.de/10012691145
Tunisia has one of the highest unemployment rates within the Middle East and Central Asia. We look at the extent to … institutional factors that affect labor demand explain not only about a quarter of the unemployment rate increase in Tunisia, but … also Tunisia's excess sensitivity of unemployment to the output gap. Our results suggest that an improved business …
Persistent link: https://www.econbiz.de/10015059052
liberalization, privatization, and stabilization reforms. Theory predicts that decentralization may aggravate fiscal imbalances … over 19 years to address a central question of fact: Did privatization help to promote local governments' fiscal discipline …? The answer is clearly 'no' for privatization considered in isolation. However, privatization and subnational f …
Persistent link: https://www.econbiz.de/10009618582
Intro -- Contents -- I. INTRODUCTION -- II. BRIEF REVIEW OF RESEARCH ON EL SALVADOR'S RECEIPTS OF REMITTANCES -- III. STYLIZED FACTS OF EL SALVADOR'S ECONOMY, 1995-2004 -- IV. MODEL SPECIFICATION AND DATA ISSUES -- V. EMPIRICAL EVIDENCE: TRANSMISSION MECHANISM -- VI. CONCLUSIONS AND ECONOMIC...
Persistent link: https://www.econbiz.de/10012691067
pension liabilities during the reform's transition period, a pension privatization reform may transform IPD int …
Persistent link: https://www.econbiz.de/10012677645
One consequence of interest rates remaining 'too low for too long' since the Global Financial Crisis is the buildup in private leverage in emerging economies. These vulnerabilities have been laid bare by the COVID-19 shock. This paper employs the growth at risk framework (Adrian, Boyarchenko,...
Persistent link: https://www.econbiz.de/10014408871
This paper investigates the role of structural reforms -financial reforms, trade liberalization, and privatization- as … financial liberalization and privatization. These results are robust to different measures of reforms, split samples, and …
Persistent link: https://www.econbiz.de/10005826274
Following a period of privatization and restructuring, commercial banks in Central and Eastern Europe and, more …
Persistent link: https://www.econbiz.de/10005769208
This paper examines whether there is a threshold above which financial development no longer has a positive effect on economic growth. We use different empirical approaches to show that there can indeed be ""too much"" finance. In particular, our results suggest that finance starts having a...
Persistent link: https://www.econbiz.de/10009618521