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Feeling the heat : climate shocks and credit ratings
Cevik, Serhan; Jalles, João Tovar - 2020
credit ratings. By means of binary-choice models, we find that climate change vulnerability has adverse effects on sovereign …
Persistent link: https://www.econbiz.de/10012486104
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This changes everything : climate shocks and sovereign bonds
Cevik, Serhan; Jalles, João Tovar - 2020
therefore investigates the impact of climate change vulnerability and resilience on sovereign bond yields and spreads in 98 … advanced and developing countries over the period 1995-2017. We find that the vulnerability and resilience to climate change … with greater vulnerability to risks associated with climate change. Furthermore, partitioning the sample into country …
Persistent link: https://www.econbiz.de/10012251897
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An apocalypse foretold : climate shocks and sovereign defaults
Cevik, Serhan; Jalles, João Tovar - 2020
Persistent link: https://www.econbiz.de/10012392493
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Optimal control of a global model of climate change with adaptation and mitigation
Atolia, Manoj; Loungani, Prakash; Maurer, Helmut; … - 2018
The Integrated Assessment Model (IAM) has extensively treated the adverse effects of climate change and the appropriate mitigation policy. We extend such a model to include optimal policies for mitigation, adaptation and infrastructure investment studying the dynamics of the transition to a low...
Persistent link: https://www.econbiz.de/10011978566
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Macroeconomic and financial policies for climate change mitigation : a review of the literature
Krogstrup, Signe; Oman, William - 2019
Climate change is one of the greatest challenges of this century. Mitigation requires a large-scale transition to a low-carbon economy. This paper provides an overview of the rapidly growing literature on the role of macroeconomic and financial policy tools in enabling this transition. The...
Persistent link: https://www.econbiz.de/10012103638
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A possible approach to fiscal rules in small islands : incorporating natural disasters and climate change
Nakatani, Ryota - 2019
A big challenge for the economic development of small island countries is dealing with external shocks. The Pacific Islands are vulnerable to natural disasters, climate change, commodity price changes, and uncertain donor grants. The question that arises is how should small developing countries...
Persistent link: https://www.econbiz.de/10012103680
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Importing inputs for climate change mitigation : the case of agricultural productivity
García-Verdú, Rodrigo; Meyer Cirkel, Alexis; … - 2019
This paper estimates agricultural total factor productivity (TFP) in 162 countries between 1991 and 2015 and aims to understand sources of cross-country variations in agricultural TFP levels and its growth rates. Two factors affecting agricultural TFP are analyzed in detail - imported...
Persistent link: https://www.econbiz.de/10012009267
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Macroeconomic gains from reforming the agri-food sector : the case of France
Batini, Nicoletta - 2019
France is the top agricultural producer in the European Union (EU), and agriculture plays a prominent role in the country's foreign trade and intermediate exchanges. Reflecting production volumes and methods, the sector, however, also generates significant negative environmental and public...
Persistent link: https://www.econbiz.de/10012009390
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Policy trade-offs in building resilience to natural disasters : the case of Saint Lucia
Cantelmo, Alessandro; Bonato, Leo; Melina, Giovanni; … - 2019
Resilience to climate change and natural disasters hinges on two fundamental elements: financial protection -insurance and self-insurance- and structural protection -investment in adaptation. Using a dynamic general equilibrium model calibrated to the St. Lucia's economy, this paper shows that...
Persistent link: https://www.econbiz.de/10012009573
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Macroeconomic outcomes in disaster-prone countries
Cantelmo, Alessandro; Melina, Giovanni; Papageorgiou, Chris - 2019
Using a dynamic stochastic general equilibrium model, we study the channels through which natural disaster shocks affect macroeconomic outcomes and welfare in disaster-prone countries. We solve the model using Taylor projection, a solution method that is shown to deal effectively with...
Persistent link: https://www.econbiz.de/10012112128