Climate change is already a systemic risk to the global economy. While there is a large body
of literature documenting potential economic consequences, there is scarce research on the …

This paper investigates the effects of macroeconomic fundamentals on emerging market
sovereign credit spreads. We find that the volatility of terms of trade in particular has a …

Asset valuations in high-carbon sectors face significant corrections due to climate risks. This
paper specifically analyses whether markets impose a penalty on long-term sovereign …

This paper analyzes the interactions between government's indebtedness, sovereign default
risk and the size of the informal sector. We test an underlying theory that suggests that in …

The aim of this study is to investigate macroeconomic influences on sukuk issuance in
Malaysia for the period 1996-2011 at the aggregate level. Based on vector autoregressive …

This article investigates the relationship between central bank credibility and the volatility of
the key monetary policy instrument. First, we propose a time-varying measure of central …

This paper studies the spread between 10 year Euro denominated Central and Eastern
European (CEE) government bonds and their German counterpart. With newly available …

Sovereign risk is defined as a country? s ability-to-pay and willingness-to-pay its debt. This
paper examines how cabinet reshuffles affecting the ministry of finance or economics are …

We investigate the impact of fiscal variables on bond yield spreads relative to US Treasury
bonds in the Czech Republic, Hungary, Poland, Russia and Turkey from May 1998 to …

This paper investigates the explanatory and forecasting power of macroeconomic
fundamentals on emerging market sovereign credit spreads. We pay special attention to a …