This paper studies external sovereign bonds as an asset class. We compile a new database of 266,000 monthly prices of foreign-currency...

China’s lending boom to developing countries is morphing into defaults and debt distress. Given the secrecy surrounding China’s loans, also...

This paper studies external sovereign bonds as an asset class. We compile a new database of 220,000 monthly prices of foreign-currency...

We examine the consequences of a sudden increase in household debt burdens by exploiting variation in exposure to household foreign currency...

This paper summarises recent trends in the international use of the euro and potential benefits and drawbacks of acquiring the status of an...

This article summarizes insights from the 36th Energy Modeling Forum study (EMF36) on the magnitude and distribution of economic adjustment...

This article introduces a new econometric model that includes an innovative measure of intersectoral structural change. This model describes...

A Rare Look into 100 Debt Contracts With Foreign Governments Through a systematic search of debt information management systems, official...

Kiel Policy Brief No. 151: The EU steps up its efforts to curb its territorial CO2-emissions.

We quantify the contemporaneous relationships among stock markets in the euro area, the United States, and a group of emerging economies over...

Partisan conflict and policy uncertainty are frequently invoked as factors contributing to slow post-crisis recoveries. Recent events in...

The 2008 financial crisis was devastating to the world economy. But the biggest cost of the crisis might be not economic but political.

KBW 24: According to a recent German-French proposal, a financial market transaction tax (FTT) at a rate of 0.2% on the purchase of securities...

We study central bank interventions in times of severe distress (mid-2010), using a unique bond-level dataset of ECB purchases of Greek...

The World Trade Organisation (WTO) has brought very significant rewards to the international community. In small, open economies like the...

We show that political booms, measured by the rise in governments' popularity, predict financial crises above and beyond other better-known...

Sovereign defaults are bad news for investors and debtor countries, in particular if a default becomes messy and protracted. Why are some debt...

Traditionally and for a long time, Japan has been both one of the world's largest external creditors (as measured by its current account...

Sovereign debt restructurings can be implemented preemptively—prior to a payment default. We code a comprehensive new data set and find that...

We establish a causal role for banking access in the spread of the Industrial Revolution over the period 1817–1881 by exploiting unique...