In this paper, we develop an analytically tractable dynamic model of optimal consumption and savings decisions with disastrous income risk. We first empirically explore the relations among consumption changes, aggregate income, disaster shock severity, and fiscal measures in 55 countries during...

In this paper, we develop an analytically tractable dynamic model of optimal consumption and savings decisions with disastrous income risk. We first empirically explore the relations among consumption changes, aggregate income, disaster shock severity, and fiscal measures in 55 countries during...

This paper is an overview of how insurance instruments could be used in Indonesia to improve disaster risk finance (the arrangements for managing the financial consequences of disaster). We review the policy and research literature to describe the existing arrangements in Indonesia for preparing...

This paper analyses the challenges for financial regulation posed by new financial technologies. It provides a conceptual framework incorporating both new financial products and services and new institutional arrangements including decentralised finance without intermediaries. Four possible...

This paper – drawing on interviews with twenty-two senior payments professionals – documents the business processes employed in the execution of international payments and discusses how international payments might be improved through the adoption of central bank digital currencies (CBDC)....