This brief talks about the catastrophe bond market which came into being in the early nineties. In response to requests from its member countries, the World Bank has developed a menu of innovative financial...
The reality of climate change associated with anthropogenic emissions is now widely acknowledged by the scientific community. Its potential devastating future harms are equally well perceived and as stated...
Participants in international capital markets traditionally gather in London every June at the annual Euromoney borrowers and investors conference. Investment bankers and their clients like to take the...
Natural disasters have taken a human toll for centuries. They have engendered numerous myths and are part of world history, witness the ruins of Herculanum and Pompei. Over the last few decades, however...
This paper examines the evolution of the U.S. interest swap market. The authors review the theory and past empirical studies on U.S. swap spreads, and estimate an error-correction model for maturities...