Tag Archives | John Beirne Climate change, Economics, Environment, Finance sector developmentEconomics, Finance sector developmentEconomics
Climate change can have a material impact on sovereign risk through direct and indirect effects on public finances. In addition, climate change raises the cost of capital in climate vulnerable countries and threatens debt sustainability. Governments must climate-proof their economies and public finances or potentially face an ever-worsening spiral of climate vulnerability and unsustainable debt burdens.
By John Beirne. Posted March 5, 2020
A feature of the academic literature on financial cycles relates to the fact that it almost exclusively focuses on selected advanced economies, the findings of which may not necessarily hold for emerging economies. Global capital flow developments and monetary policies in advanced economies mean that financial cycle dynamics may differ substantially in emerging economies, not only in terms of turning points but also with regard to which asset market cycle best characterizes the financial cycle.
By John Beirne. Posted January 10, 2020
The rise of the digital age has created challenges for policy makers around the globe in managing their economies. Early work on this issue by Cecchetti (2002) noted that macroeconomic management becomes more complex in an environment of digitalization given shifting trend productivity and difficulties in estimating potential output.
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