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The recent collapse of the Argentine currency board raises new questions about the desirability of formal fixed exchange rate regimes in modern developing economies. This paper examines the impact of dollarized liabilities with potential default for a currency board with costly abandonment. We...
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Whereas some central bank derivatives and other contingent liabilities arise from anomalous circumstances, there are a number of positive reasons that explain their popularity. After analyzing the rationale for these operations, we stress that most of these operations, being off-balance sheet,...
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increasingly common in recent decades. Based on an original dataset of compliance behavior across 14 countries observed between … acceleration episodes than countries that do not comply with their rules. We then show that compliance is affected by the broader … macroeconomic and politico-institutional environment. First, we find an asymmetrical response of compliance to macroeconomic …
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Given the urgent need to dramatically reduce greenhouse gas emissions, and concern regarding insufficient climate action and ambition across the globe, NGOs and individuals are increasingly turning to the courts to force States, public authorities, and private entities to increase their climate...
Persistent link: https://www.econbiz.de/10012795452
Given the urgent need to dramatically reduce greenhouse gas emissions, and concern regarding insufficient climate action and ambition across the globe, NGOs and individuals are increasingly turning to the courts to force States, public authorities, and private entities to increase their climate...
Persistent link: https://www.econbiz.de/10013312155
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