This paper examines the interaction between macro-financial and climate-related risks. It brings together different strands of the literature on climate-related risks and how these relate to macro-financial management and risks. Physical impacts of climate change as well as the transition toward...

To finance the transition to low-carbon economies required to mitigate climate change, countries are increasingly using a combination of carbon pricing and green bonds. This paper studies the reasoning behind such policy mixes and the economic interaction effects that result from these different...

This paper considers the impacts of "finance blending" whereby climate finance is added to international carbon markets for offset trading. The paper first discusses climate finance and the carbon market as free-standing finance solutions by high-income countries to increase mitigation in...

The fact that developing countries do not have carbon emission caps under the Kyoto Protocol has led to the current interest in high-income countries in border taxes on the "virtual" carbon content of imports. The authors use Global Trade Analysis Project data and input-output analysis to...

This paper investigates how the devolution of oil windfalls affects the likelihood of political violence. It shows that transferring large shares of oil wealth can prevent conflict, while transferring small shares can trigger it. Among the different transfer schemes, fiscal transfers (to...

Housing is the largest durable good consumed by households. As such, any consumption-based measure of welfare, to be comprehensive, must include the value of the flow of services households derive from their dwellings, the so-called imputed rent. However, estimating imputed rents is a daunting...

This paper studies the labor supply of South Indian boat owners using daily labor participation decisions of 249 boat owners during seven years. It tests the standard neoclassical model of labor supply, which predicts that (i) individuals should be more likely to work when earnings are...

Devolving property rights to local institutions has emerged as a compelling management strategy for natural resource management in developing countries. The use of property rights among fishing cooperatives operating in Mexico's Gulf of California provides a compelling setting for theoretical...

Using three waves of survey data from fishing villages in Aceh, Indonesia for 2005?09, the paper examines the determinants of local volunteer labor after the tsunami. Volunteer labor is the village public sector labor force for maintenance, clean-up and renovation of public capital. While also...