This paper investigates how a country's economic complexity influences its sovereign yield spread with respect to the United States. Notably, a one-unit increase in the Economic Complexity Index is associated with a reduction of about 87 basis points in the 10-year yield spread. However, this...

Climate change adaptation efforts are heavily dependent on a country's fiscal capacity and the associated costs of undertaking adaptation policies. The current accumulation of high debt levels in emerging and low-income developing countries, which are disproportionately affected by climate...

The productivity of the printing industry in terms of real sales per employee hasbeen growing at an annualized rate of 1.9% for more than a decade. The NationalAssociation for Printing Leadership (NAPL) reports that the industry is lagging, whencompared to the average productivity growth of 4%...

This paper studies volatility spillovers in credit default swaps (CDS) between the corporate sectors and Latin American countries. Daily data from October 14, 2006, to August 23, 2021, are employed. Spillovers are computed both for the raw data and for filtered series which factor out the effect...

Spanish Abstract: Tal como predice la hipótesis de eficiencia débil de mercado, la evidencia empírica de esta investigación respalda el supuesto de que no es posible obtener beneficios económicos significativos y estadísticamente robustos al implementar estrategias de inversión basadas en...

This paper reviews the basic methodologies for the estimation of Value at Risk (VaR) that are currently in use in international stock and financial market regulation and portfolio management. The main shortcomings of these methodologies are exposed and the direct consequences of ignoring these...

A recently developed methodology, based on asymptotic dependence coefficients, is proposed to detect financial market contagion. The approach, while remaining within the theoretical limits of the problem, is robust when compared against common statistical approximation criteria such as Pearson...

Financial bubbles and recent behaviour of the Latin American stock markets