at challenges lying ahead for official statistics, namely, how to deal with digitalization and globalization, and how to …

initiative to address currency risk in low- and middle-income economies so they can more fully exploit economic development …

We propose an original analysis of the second globalization era, using an alternative range of equity prices … integration indicators based on the topological structure of world equity markets. The sample includes 32 countries over the … highlights that the second globalization era is characterized by an increasing unpredictability of the structure and dynamics of …

examine how changes in the perceived risk associated with future returns across world financial markets contributed to … cannot run Ponzi schemes or exploit arbitrage opportunities in world financial markets. It provides guidance on how external …

We provide a new measure of sovereign country risk exposure to global sovereign tail risk (SCRE) based on information … monetary policy. We show that our risk exposure variable reacts significantly more than mean (median) CDS spreads to macro …-financial risks. Our results therefore imply that good fundamentals protect countries against sovereign risk especially in times of …

that, while the default premium does not contribute to carry trade strategies, the contribution of interest rate risk …, captured by the term premium, is large and increases with maturity. We introduce default risk in an otherwise standard affine …

The U.S. could be the source of the global financial risk because it longs risky assets and shorts safe assets in the … international capital market. This paper builds a stylized two-country model to highlight that when the developed country's risk …-bearing capacity improves, it holds more foreign risky assets and issue more risk-free debt. The foreign country's risk …

This paper employs a panel logistic regression to evaluate the role of global and domestic risk factors in explaining … sovereign tail risk for 18 emerging economies (EMEs). Sovereign tail risk is defined as the likelihood of a sharp rise in … sovereign credit risk. We find that both global and domestic risk factors are important for explaining sovereign tail risk, with …