Policy Space Index Short Term Response To A Catastrophic Event
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Policy Space Index Short Term Response To A Catastrophic Event
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Author : José Ferrer
language : en
Publisher: International Monetary Fund
Release Date : 2022-06-17
Policy Space Index Short Term Response To A Catastrophic Event written by José Ferrer and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-06-17 with Business & Economics categories.
What policy space does a country have for a short-term response to a catastrophic event? To quantify this space, the paper proposes a policy space index. The index combines a quantitative, albeit relatively limited and narrow, fiscal space concept with the indicators of nominal monetary space and reserve space. Each nominal policy space indicator is then adjusted for individual country’s institutional features, such as the status of its currency, income group, access to capital markets, debt distress level, and the exchange rate regime. The final policy space index is derived as a composite of the three nominal policy space indicators, each adjusted for five institutional features. This index is different from the approach to measure fiscal space at the IMF and requires more work before it can be used operationally. The proposed index allows measuring the overall policy space in each country directly in percent of GDP. By way of illustration, the paper applies the index to the Covid-19 crisis.
Fiscal R Star Fiscal Monetary Tensions And Implications For Policy
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Author : Marijn A. Bolhuis
language : en
Publisher: International Monetary Fund
Release Date : 2024-08-09
Fiscal R Star Fiscal Monetary Tensions And Implications For Policy written by Marijn A. Bolhuis and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-08-09 with categories.
Since the Global Financial Crisis, fiscal policy in advanced economies has become more “active” – that is, increasingly unresponsive to rising debt levels. This paper explores tensions between active fiscal and monetary policies by introducing the concept of “fiscal r-star,” which is the real interest rate required to stabilize debt levels when the primary balance is set exogenously, output is growing at potential, and inflation is at target. It is proposed that the difference between monetary r-star and fiscal r-star—referred to as the “fiscal monetary gap”—is a proxy for fiscal-monetary policy tensions. An analysis of over 140 years of data from 16 advanced economies shows that larger fiscal-monetary gaps are associated with rising debt levels, higher inflation, financial repression, lower real returns on bonds and cash, with elevated risks of future debt, inflation, currency, housing, and systemic crises. Current estimates indicate that fiscal-monetary tensions are at historic highs. Given the tepid growth outlook, growth-enhancing reforms and fiscal consolidation, among other policy adjustments, may be needed to attenuate fiscal-monetary tensions over time.
Managing Risk In Agriculture Policy Assessment And Design
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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2011-06-30
Managing Risk In Agriculture Policy Assessment And Design written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-06-30 with categories.
This book examines the implications of risk management for policy in agriculture. Opening with a chapter on risk management principles and guidelines for policy design in agriculture, the book goes on to look at quantitative analysis of risk and then at policy in various countries.
Insuring Against Climate Change
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Author : Nikolas Scherer
language : en
Publisher: Routledge
Release Date : 2020-02-19
Insuring Against Climate Change written by Nikolas Scherer and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-02-19 with Science categories.
This book provides one of the first systematic in-depth studies on regional catastrophe risk pools. It explores the various goals of these new financial instruments, illustrating how they function on a conceptual, technical and practical level, and reconstructs their political genesis. With climate-related disasters increasing in frequency and severity, Insuring Against Climate Change explores how affected countries, especially those in the Global South, have increasingly turned to innovative index insurance instruments, as demonstrated by the creation of the Caribbean Catastrophic Risk Insurance Facility (CCRIF), the African Risk Capacity (ARC) and the Pacific Catastrophe Risk Assessment and Financing Initiative Facility (PCRAFI Facility). Scherer scrutinizes the formation of this trend, exploring comparatively the goals, characteristics and histories of these tools, and argues that their attractiveness rests more on political than economic benefits and is, in fact, more supply than demand-driven. Making a significant contribution to current debates on the opportunities and limitations of what are sometimes described as indirect ‘climate risk insurance’, this book will be of great interest to political scientists with an interest in insurance instruments and climate-related disaster management politics as well as to practitioners working in the insurance, finance and the development sectors.
Proceedings Of The Marine Safety Security Council
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Author :
language : en
Publisher:
Release Date : 2006
Proceedings Of The Marine Safety Security Council written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Merchant marine categories.
Refugee Crises And Third World Economies
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Author : Sourav Kumar Das
language : en
Publisher: Emerald Group Publishing
Release Date : 2020-06-18
Refugee Crises And Third World Economies written by Sourav Kumar Das and has been published by Emerald Group Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-06-18 with Business & Economics categories.
The global political economy is currently in the midst of a refugee crisis, one that is complex and that remains poorly researched and under-theorized within both economics and political science. There is little understanding of the many diverse situations that led to it, and refugees are all too often included in the category of forced migrants.
Managing The Risks Of Extreme Events And Disasters To Advance Climate Change Adaptation
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Author : Intergovernmental Panel on Climate Change
language : en
Publisher: Cambridge University Press
Release Date : 2012-05-28
Managing The Risks Of Extreme Events And Disasters To Advance Climate Change Adaptation written by Intergovernmental Panel on Climate Change and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-05-28 with Business & Economics categories.
Extreme weather and climate events, interacting with exposed and vulnerable human and natural systems, can lead to disasters. This Special Report explores the social as well as physical dimensions of weather- and climate-related disasters, considering opportunities for managing risks at local to international scales. SREX was approved and accepted by the Intergovernmental Panel on Climate Change (IPCC) on 18 November 2011 in Kampala, Uganda.
Natural And Man Made Catastrophes
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Author : S. Niggol Seo
language : en
Publisher: John Wiley & Sons
Release Date : 2019-01-14
Natural And Man Made Catastrophes written by S. Niggol Seo and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-01-14 with Political Science categories.
A thorough explanation of the mathematical theories, philosophies, and economics of catastrophes with a view to how humanity should be prepared for events with catastrophic consequences This book presents a holistic view of natural and man-made catastrophes, from mathematical theories and philosophy through to economics and policy. It is both academic and applied in its approach, offering both empirical evidence and academic reflections to give a new perspective on an ever-developing topic, and providing many examples of public policy and catastrophe responses from around the world. Natural and Man-made Catastrophes: Theories, Economics, and Policy Designs begins by introducing readers to numerous natural and man-made catastrophes and how catastrophe theories have played a pivotal role in designing policies and responses to them. It discusses hurricanes, earthquakes, nuclear disaster, asteroid collision, Large Hadron Collider, artificial intelligence, uncontrollable robots, global warming, infectious diseases without antibodies, and bioterrorism. It clarifies key mathematical and scientific theories—such as catastrophe theory, chaos, singularity, fractal, tipping point, unbounded variance, fat-tail, and Feigenbaum constant—on catastrophes. The book goes on to examine ancient and contemporary philosophies that have played critical roles in humanity’s understanding of catastrophic outcomes. The book critically builds the economics of catastrophic events 1) by consolidating the catastrophe literature in natural sciences, scientific theories, and philosophy; 2) by constructing global empirical catastrophe data and analytical models using historical data on hurricanes and earthquakes; 3) and by critically reviewing policy experiences on the aforementioned catastrophic events. Lays the foundation for the economic analyses and policy-making on potential humanity/universe threatening catastrophes Includes many examples of public policy and behavioral responses to catastrophes from around the world Provides a wide-ranging commentary on crucial implications of the studies, models, and concepts of catastrophes Synthesizes the catastrophe literature in mathematical theories, philosophical traditions, economic analyses, policy studies, and contemporary concerns. Natural and Man-made Catastrophes: Theories, Economics, and Policy Designs is an important book for students, teachers, professionals, and policy makers who are involved in environmental research and disaster response.
How To Manage The Fiscal Costs Of Natural Disasters
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Author : Mr.Serhan Cevik
language : en
Publisher: International Monetary Fund
Release Date : 2018-06-11
How To Manage The Fiscal Costs Of Natural Disasters written by Mr.Serhan Cevik and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-06-11 with Nature categories.
This how-to note focuses on the management of the fiscal costs associated with natural disaster risks. Unlike other types of fiscal risks (for example, unexpected macroeconomic changes or materialization of contingent liabilities), a natural disaster presents a unique challenge to fiscal risk-management and budget processes because of its exogenous nature and potentially overwhelming scale. This note discusses how governments can build fiscal resilience against natural hazards and strengthen fiscal management after a disaster, including through budgeting frameworks and other fiscal policies. The note aims to answer three central questions: How large should fiscal buffers be? How should fiscal buffers be built up? How should fiscal buffers be used efficiently and transparently once a natural disaster has struck? These three questions directly relate to fiscal policy, fiscal risk management, and the budget process—all core areas of IMF expertise. To address them, the note focuses on fiscal strategies for financing recovery efforts and considers approaches to mitigate disaster impact. The note also provides guidance on how to conduct regular risk analyses of natural disasters’ potential fiscal consequences and outlines best practices for defining and accounting for the contingent liabilities associated with natural disasters in budgeting frameworks. Finally, the note touches on approaches for risk reduction, disaster risk financing strategies, and risk transfer mechanisms, such as various insurance instruments.
Far From Home
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Author : United States. Congress. Senate. Committee on Homeland Security and Governmental Affairs. Ad Hoc Subcommittee on Disaster Recovery
language : en
Publisher:
Release Date : 2009
Far From Home written by United States. Congress. Senate. Committee on Homeland Security and Governmental Affairs. Ad Hoc Subcommittee on Disaster Recovery and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with Disaster relief categories.