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- 01JHTZJ3Y9SETATCYN2GZB7X3K classification U.
- 01JHTZJ3Y9SETATCYN2GZB7X3K date "2025".
- 01JHTZJ3Y9SETATCYN2GZB7X3K language "eng".
- 01JHTZJ3Y9SETATCYN2GZB7X3K type misc.
- 01JHTZJ3Y9SETATCYN2GZB7X3K hasPart 01JHTZKX32R5TNMRFRRW4MDRDA.pdf.
- 01JHTZJ3Y9SETATCYN2GZB7X3K subject "Business and Economics".
- 01JHTZJ3Y9SETATCYN2GZB7X3K doi "10.2139/ssrn.5017847".
- 01JHTZJ3Y9SETATCYN2GZB7X3K abstract "This paper investigates the implications of heat shocks on sovereign bonds. Using a calibrated sovereign default model we identify a principal mechanism at play: an economy hit by a heat shock experiences lower growth, which increases risk of default and widens bond spreads. The mechanism is empirically tested on a global sample of sovereign bonds and CDS spreads, revealing that heat shocks tend to widen sovereign bonds and CDS spreads for Emerging Markets but not for Advanced Markets. Het- erogenous effects also show that Emerging Markets with larger agricultural exposure are hit relatively stronger and that countries closer to the Artic with larger fossil fuel endowments tend to benefit from heat shocks. The results highlights an important externality of global warming: most of the stock of CO2 equivalent emissions has historically been generated by Advanced Markets but in the sovereign bond market Emerging Markets are experiencing the adverse effects.".
- 01JHTZJ3Y9SETATCYN2GZB7X3K author 25CA875C-F0EE-11E1-A9DE-61C894A0A6B4.
- 01JHTZJ3Y9SETATCYN2GZB7X3K author a302a8fe-a51c-11ea-9164-df193b9d7b65.
- 01JHTZJ3Y9SETATCYN2GZB7X3K dateCreated "2025-01-17T20:34:04Z".
- 01JHTZJ3Y9SETATCYN2GZB7X3K dateModified "2025-01-17T20:45:04Z".
- 01JHTZJ3Y9SETATCYN2GZB7X3K name "Heat Distributed Unequally in the Sovereign Bond Market".
- 01JHTZJ3Y9SETATCYN2GZB7X3K sameAs LU-01JHTZJ3Y9SETATCYN2GZB7X3K.
- 01JHTZJ3Y9SETATCYN2GZB7X3K sourceOrganization urn:uuid:73fcaf6b-d62e-4755-96c9-b204ac2b8df3.
- 01JHTZJ3Y9SETATCYN2GZB7X3K type U.