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Natural disaster insurance for sovereigns : issues, challenges and optimality
Cebotari, Aliona; Youssef, Karim - 2020
ex-ante preparedness is needed to manage the risks. The paper discusses sovereign experience with disaster insurance as a … use by vulnerable countries. The paper especially aims to inform policy decisions on disaster insurance. Through …
Persistent link: https://www.econbiz.de/10012170086
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Debt Sustainability Under Catastrophic Risk : The Case for Government Budget Insurance
Cavallo, Eduardo A. - 2008
disaster-prone areas of the world, it has one of the lowest levels of insurance coverage. This paper examines the vulnerability …
Persistent link: https://www.econbiz.de/10014401687
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Insuring Public Finances Against Natural Disasters : A Survey of Options and Recent Initiatives
Hofman, David - 2006
because it could help introduce an important element of predictability in the post-disaster public finances of disaster …
Persistent link: https://www.econbiz.de/10014404253
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Subsidy Reforms and Poverty Alleviation
Bhambhri, Chandra Prakash - 2001
This paper presents a general framework for characterizing the optimal pattern of subsidies for poverty alleviation under budgetary constraints and suggests possible reforms for the existing pattern of subsidies. The government may subsidize or tax goods in order to meet its objectives. The...
Persistent link: https://www.econbiz.de/10014400878
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On the Solvency of Nations : Are Global Imbalances Consistent with Intertemporal Budget Constraints?
Mendoza, Enrique G. - 2010
Theory predicts that a nation''s stochastic intertemporal budget constraint is satisfied if net exports (NX) and net …
Persistent link: https://www.econbiz.de/10014402804
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Soft Budget Constraints, Firm Commitments and the Social Safety Net
International Monetary Fund - 1991
It is shown that the inefficiencies created by the “soft” budget constraint, enjoyed by enterprises in Eastern Europe and elsewhere, will continue so long as governments are unable credibly to threaten not to bail out loss-makers. Commitment to a “hard” budget constraint can best be...
Persistent link: https://www.econbiz.de/10014396100
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Assessing Fiscal Sustainability in Theory and Practice
Chalk, Nigel Andrew - 2000
The main purpose of this paper is to provide an overview of approaches to assessing fiscal sustainability. It summarizes the general analytical background, focusing on the present value budget constraint, which is the benchmark against which solvency is determined, tests of sustainability...
Persistent link: https://www.econbiz.de/10014399921
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Intergovernmental Relations and Fiscal Discipline : Between Common Tax Resources and Soft Budget Constraints
Pisauro, Guiseppe - 2001
Fiscal decentralization is likely to entail a bias in the budget process toward higher public expenses and deficits. The paper reviews lessons drawn from the theoretical literature and international experience on the design of intergovernmental relations. The institutional setup should address...
Persistent link: https://www.econbiz.de/10014400105
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Climate disaster risks : empirics and a multi-phase dynamic model
Mittnik, Stefan; Semmler, Willi; Haider, Alexander - 2019
?ects on the macroecon-omy. Research on disaster risks has also actively been pursued in the macroeconomic models of climate … change. Our paper uses insights from the former work to study disaster risks in the macroeconomics of climate change and to … spell out policy needs. Empirically the link between carbon dioxide emission and the frequency of climate re-lated disaster …
Persistent link: https://www.econbiz.de/10012102117
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El Nino and World Primary Commodity Prices : Warm Water or Hot Air?
Brunner, Allan D. - 2000
This paper examines the historical effects of the El Niño-Southern Oscillation (ENSO) cycle on world prices and economic activity. The analysis indicates that ENSO has economically-important and statistically-significant effects on world real commodity prices. A one-standard-deviation positive...
Persistent link: https://www.econbiz.de/10014403435