We join the new trade theory with a model of choice between bank and bond financing to show the differential effects of …. Increasing bank efficiency and reducing bond transaction costs have opposite effects on the extensive margin of trade, aggregate … exports, and the real exchange rate. Increasing access to export markets allows firms to overcome high fixed costs of bond …

We join the new trade theory with a model of choice between bank and bond financing to show the differential effects of … small open economy. Increasing bank efficiency and reducing bond transaction costs both increase welfare but have opposite … openness increases firms' relative demand for bond versus bank financing. We identify a financial switching channel for gains …

We join the new trade theory with a model of choice between bank and bond financing to show the differential effects of … small open economy. Increasing bank efficiency and reducing bond transaction costs both increase welfare but have opposite … openness increases firms' relative demand for bond versus bank financing. We identify a financial switching channel for gains …

We join the new trade theory with a model of choice between bank and bond financing to show the differential effects of … small open economy. Increasing bank efficiency and reducing bond transaction costs both increase welfare but have opposite … openness increases firms' relative demand for bond versus bank financing. We identify a financial switching channel for gains …

devastation may contribute to the economic collapse and increase in sovereign debt. A catastrophe bond (CAT bond) can be utilized … to transfer catastrophe risk to the financial market. This article examines how policymakers can use a CAT bond as an ex … using three potential catastrophe bond packages based on the coverage size of the simulated loss. We find that all packages …

, there is uncertainty about the determination of the CAT bond premium. In addition, it is not apparent how CAT bonds react … after the financial crisis or a natural catastrophe. We empirically verify which factors determine the CAT bond premium and … that the recent financial crisis has a significant impact on CAT bond premiums. Furthermore, we find that after hurricane …