In most countries, mainstream economic policy has not yet undergone any significant change, and there is little consensus on what, if anything, ought to replace it. However, there are some signs of an emerging transition, at several levels.

The Current Expected Credit Loss (CECL) revised accounting standard for credit loss provisioning is the most important change to United States (US) accounting standards in recent history. In this study, we survey and assess practices in the validation of models that support CECL, across...

In this study, we consider the construction of through-the-cycle ("TTC") PD models designed for credit underwriting uses and point-in-time ("PIT") PD models suitable for early warning uses, considering which validation elements should be emphasized in each case. We build PD models using a long...

Purpose – The purpose of this paper is to build an easy to implement, pragmatic and parsimonious yet accurate model to determine an exposure at default (EAD) distribution for CCL (contingent credit lines) portfolios. Design/methodology/approach – Using an algorithm similar to the basic...

The paper explores the concept of �green growth� as it has emerged in international policy discourse over recent years. Identifying the core meaning of the concept and sister terms such as �green economy�, it relates green growth to the prior concept of sustainable...

El Banco Interamericano de Desarrollo organizó en marzo de 1997 un "Simposio de ciudades y Foro de buenas prácticas en gestión urbana" . En él se debatieron las nuevas ideas sobre el papel de los centros urbanos en el futuro de la región, los problemas que enfrentarán al asumir este papel...

Recent research provides considerable evidence that correlations between assets change significantly over time and diversification benefits of correlations may vary substantially based on the time-varying measure of correlation used for different asset types. Our study evaluates and compares...