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Debt Sustainability under Catastrophic Risk: The Case for Government Budget Insurance

Author/Editor: Eduardo A. Cavallo, Patricio Valenzuela, Eduardo Borensztein.

Release Date:February, 2008

Natural disasters are an important source of vulnerability in the Caribbean region. Despite being one of the more disaster-prone areas of the world, it has one of the lowest levels of insurance more...



Price: $18.00
The Determinants of Corporate Risk in Emerging Markets: An Option-Adjusted Spread Analysis

Author/Editor: Eduardo A. Cavallo, Patricio Valenzuela.

Release Date:September, 2007

This study explores the determinants of corporate bond spreads in emerging markets economies. Using a largely unexploited dataset, the paper finds that corporate bond spreads are determined by more...



Price: $18.00
Exchange Rate Policy and Liability Dollarization: What Do the Data Reveal About Causality?

Author/Editor: Pelin Berkmen, Eduardo A. Cavallo.

Release Date:February, 2007

The paper identifies the contemporaneous relationship between exchange rate policy and liability dollarization using three different definitions of dollarization. The presence of endogeneity makes more...



Price: $18.00