vulnerability to climate change, in terms of sovereign risk, particularly for countries with low spreads and long-term debt … (advanced economies), where readiness and vulnerability tend to counterbalance each other. However, for countries with high … vulnerability effects in this case. Results also demonstrate that the actual occurrence of natural disasters is less influential …

captures the contribution of key risk variables to public sector vulnerability. In an illustrative application to Ecuador, the … vulnerability, the volatility of sovereign spreads and of oil prices remain major sources of risk for Ecuador's public sector. The …

constant over time? (iii) If it is not, can we use the tail index as an indicator for financial market risk and does it add … value in addition to classical indicators? The answers to these questions are (i) yes, (ii) no, and (iii) yes. We find … significant heaviness of the tails of the Bund future returns. The tail index is on average around 3, implying the nonexistence of …