Journal ArticleFrontiers in Climate · January 1, 2023
The 2015 Paris Agreement requires all nations to combat climate change and to adapt to its effects. Countries promise to reduce their greenhouse gas (GHG) emissions through their Nationally Determined Contributions. Pledges to reduce emissions, however, ha ...
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Journal ArticleProceedings of the National Academy of Sciences of the United States of America · May 2022
Filling the global biodiversity financing gap will require significant investments from financial markets, which demand credible valuations of ecosystem services and natural capital. However, current valuation approaches discourage investment in conservati ...
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Journal ArticleFrontiers in Climate · April 15, 2022
Humanity faces a dual threat to its existence: climate change and biodiversity loss. The two risks are linked through human activity and an economic system that promotes growth at the expense of nature. Creating a nature-based economy can mitigate the dual ...
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ConferenceSpringer Proceedings in Business and Economics · January 1, 2022
We develop a framework for natural resource valuation that directly addresses the fundamental collective action problem in environmental protection. Our framework uses the lessons of behavioral economics to create values that individual decision makers fin ...
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Chapter · January 1, 2021
This chapter describes the state of financial development in fragile states. Our analysis primarily relies on indicators from the World Bank Global Financial Development Database, which have been used extensively in the literature to capture the degree to ...
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Chapter · January 1, 2021
A rising number of people is living in fragile countries whose weak institutions fail to deliver on decent work and poverty reduction. The chapter discusses to what extent external financial flows, such as remittances, foreign direct investment or official ...
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Journal ArticleJournal of Economic Policy Reform · October 2, 2017
Despite revisions to bank capital standards, fundamental shortcomings remain: the rules for setting capital requirements need to be simpler, and resolution should be an essential part of the capital requirement framework.We propose a revised system of capi ...
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Journal ArticleJournal of Economic Policy Reform · June 1, 2010
A framework for examining the process of financial market development is proposed. The framework is anchored in studying the incentives facing the key players in financial markets - borrowers, lenders, liquidity providers, and regulators - whose actions de ...
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OtherIMF Occasional Papers · May 5, 2008
Two main issues that are of interest to policymakers with regards to remittances include how to manage macroeconomic effects and how to harness development potential in developing countries. A global study of the comprehensive macroeconomic effects of remi ...
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Journal ArticleIMF Staff Papers · July 6, 2005
There is a general presumption in the literature and among policymakers that immigrant remittances play the same role in economic development as foreign direct investment and other capital flows, but this is an open question. We develop a model of remittan ...
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Journal ArticleReview of Economics and Statistics · January 1, 2003
We use information from the television game show with the highest guaranteed average payoff in the United States, Hoosier Millionaire, to analyze risktaking in a high-stakes experiment. We characterize gambling decisions under alternative assumptions about ...
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Journal ArticleIMF Staff Papers · December 1, 2002
Private income transfers are increasingly viewed as an alternative to government income transfers such as social insurance and foreign aid. This paper models the incentive effects of government-subsidized private transfers and finds that although there is ...
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Journal ArticleJournal of Banking and Finance · August 23, 2002
Agency problems within the firm are a significant hindrance to efficiency. We propose trust between coworkers as a superior alternative to the standard tools used to mitigate agency problems: increased monitoring and incentive-based pay. We model trust as ...
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Journal ArticleJournal of Banking and Finance · January 1, 2002
In September 1999, the University of Notre Dame hosted a conference entitled "Measuring and Managing Ethical Risk: How Investing in Ethics Adds Value". The motivations for hosting the conference and the papers presented there are summarized. Several themes ...
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Journal ArticleReview of Economic Dynamics · July 1, 2001
A market for used capital goods, or financial instruments that represent the ownership of the used capital goods, induces inflation taxes on wealth and on the nominal income flows that they provide. This paper explicitly introduces trading in either used c ...
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