This paper proposes a new relative evaluation and benchmarking framework for performance linked financing instruments. It argues that the carrots and sticks of sustainability-linked bonds should not use key performance indicators which are solely tied to outcomes. Instead, they should be based...

This paper develops a dynamic spatial equlibrium model of Amazon deforestation, accounting for trade and labor markets dynamics. It uses this model to study the impact of local sectoral shocks and policies on deforestation. Conditional on the assumptions on key parameters, the analysis suggests...

Despite policy efforts in recent decades, deforestation remains a pervasive phenomenon in Brazil. Yet deforestation is not only affected by forest governance. It is also driven by global demand for commodities and the relative competitiveness of agriculture, which in turn depends on...

This paper develops a dynamic spatial equlibrium model of Amazon deforestation, accounting for trade and labor markets dynamics. It uses this model to study the impact of local sectoral shocks and policies on deforestation. Conditional on the assumptions on key parameters, the analysis suggests...

Despite policy efforts in recent decades, deforestation remains a pervasive phenomenon in Brazil. Yet deforestation is not only affected by forest governance. It is also driven by global demand for commodities and the relative competitiveness of agriculture, which in turn depends on...

This paper proposes a new relative evaluation and benchmarking framework for performance linked financing instruments. It argues that the carrots and sticks of sustainability-linked bonds should not use key performance indicators which are solely tied to outcomes. Instead, they should be based...