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Although there is by now strong evidence that sovereign risk premia are driven by a common factor, little is known about the detailed linkages between sovereign bond markets. We employ the VAR method by Diebold and Yilmaz (2009) to analyse the strength and direction of bilateral linkages between...

We use the forecast-error variance decompositions from a VAR with daily sovereign bonds spreads since 2000 to detail the linkages between EU sovereign bond markets and banks over time. Using new summary statistics on the matrix of bilateral linkages, we show Spain is systemic for Europe. Its...

Legal simplification may improve the quality of institutions in industrialised countries that developed over-complex legal systems. In theory, this type of regulatory reform promotes economic efficiency, leading to higher levels of productivity and output. In this paper we use a Panel...

Endogenous mark-ups have been a matter of interest in macroeconomics, especially from the middle 1990’s onwards. However, the complexity of this class of models, does not allow general ualitative conclusions in most cases, and there is plenty of room for investigation, especially in the...

This thesis aims at improving the current representation of adaptation in economic frameworks of climate change by a) accounting for the time-dependent evolution of the adaptive capacities of countries and b) quantifying unwelcome feedbacks of the adaptation process. In this context, it is...

To stop climate change, we have to limit global warming to 1.5°C. But can we still achieve this target? And if so, what pathways can society take in transiting towards a climate-just economy? One important yardstick emerging from it was the need for global emissions to reach net-zero by 2050,...