To ensure the safety and soundness of the global financial system as well as individual
financial institutions and to reduce systemic risk, numerous policy measures and regulatory …

This paper empirically examines the link between the cost of sovereign borrowing and
climate risk for 40 advanced and emerging economies. We find that vulnerability to the direct …

This paper presents a comprehensive cross-country database of fiscal space, broadly
defined as the availability of budgetary resources for a government to service its financial …

We test the hypothesis that the government bond markets in the Eurozone are more fragile
and more susceptible to self-fulfilling liquidity crises than in stand-alone countries. We find …

The paper analyses the drivers of sovereign risk for 31 advanced and emerging economies
during the European sovereign debt crisis. It shows that a deterioration in countries' …

This paper reviews the young but rapidly growing literature on sovereign credit default swap
premia. A discussion of current debates in the academic and popular press hopefully raises …

This paper investigates contagion between bank and sovereign default risk in Europe over
the period 2007–2012. We define contagion as excess correlation, ie correlation between …

Credit default swaps (CDS) have been growing in importance in the global financial
markets. However, their role has been hotly debated, in industry and academia, particularly …

This paper evaluates the impact of tapering “news” announcements by Fed senior policy
makers on financial markets in emerging economies. We apply a panel framework using …

This paper investigates the impact of macro-prudential policy (proxied by the counter-
cyclical capital buffer (CCyB)) on bank credit risk during uncertain times, as banking sector …