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65 records from EconBiz based on author Name
1. Financial integration and banking stability : a post-global crisis assessment
Giraldo, Carlos; Giraldo, Iader; Gómez González, José Eduardo; Uribe, Jorge;2024
Type: Aufsatz in Zeitschrift; Article in journal;
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Link 2. Weather conditions, climate change, and the price of electricity
Mosquera-López, Stephania; Uribe, Jorge; Joaqui-Barandica, Orlando;2024
Type: Aufsatz in Zeitschrift; Article in journal;
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Link 3. Term spread spillovers to Latin America and emergence of the "Twin Ds"
Giraldo, Carlos; Giraldo, Iader; Gómez González, José Eduardo; Uribe, Jorge;2024
Type: Aufsatz in Zeitschrift; Article in journal;
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Link 4. Vulnerability of European electricity markets : a quantile connectedness approach
Chuliá, Helena; Klein, Tony; Muñoz-Mendoza, Jorge Andrés; Uribe, Jorge;2024
Type: Aufsatz in Zeitschrift; Article in journal;
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Link 5. Daily growth at risk : financial or real drivers? : the answer is not always the same
Chuliá, Helena; Garron, Ignacio; Uribe, Jorge;2024
Type: Aufsatz in Zeitschrift; Article in journal;
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Link 6. Asymmetric sovereign risk : implications for climate change preparation
abstractClimate change adaptation efforts are heavily dependent on a country's fiscal capacity and the associated costs of undertaking adaptation policies. The current accumulation of high debt levels in emerging and low-income developing countries, which are disproportionately affected by climate change, raises significant concerns. This study shows that sovereign risk, and hence funding costs for governments, exhibits significantly asymmetric reactions to its determinants across the conditional distribution of credit spreads. This aspect, previously overlooked in the literature, has relevant policy implications. Countries with elevated risk levels are disproportionately vulnerable to climate change compared to their lower-risk counterparts, especially in the short term. Notably, investing in climate change preparedness proves effective in mitigating vulnerability to climate change, in terms of sovereign risk, particularly for countries with low spreads and long-term debt (advanced economies), where readiness and vulnerability tend to counterbalance each other. However, for countries with high spreads and short-term debt, additional measures are essential as climate change readiness alone is insufficient to offset vulnerability effects in this case. Results also demonstrate that the actual occurrence of natural disasters is less influential than vulnerability to climate change in determining spreads.
Gómez González, José Eduardo; Uribe, Jorge; Valencia, Oscar M.;2024
Type: Graue Literatur; Non-commercial literature; Arbeitspapier; Working Paper;
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Link Link 7. Sovereign risk and economic complexity
abstractThis paper investigates how a country's economic complexity influences its sovereign yield spread with respect to the United States. Notably, a one-unit increase in the Economic Complexity Index is associated with a reduction of about 87 basis points in the 10-year yield spread. However, this effect is largely non-significant for maturities under three years. This suggests that economic complexity affects not only the level of the sovereign yield spreads but also the curve slope. The first set of models utilizes advanced causal machine learning tools, while the second focuses on economic complexity's predictive power. Economic complexity ranks among the top three predictors, alongside inflation and institutional factors like the rule of law. The paper also discusses the potential mechanisms through which economic complexity reduces sovereign risk and emphasizes its role as a long-run determinant of productivity, output, and income stability, and the likelihood of fiscal crises.
Gómez González, José Eduardo; Uribe, Jorge; Valencia, Oscar M.;2024
Type: Graue Literatur; Non-commercial literature; Arbeitspapier; Working Paper;
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Link Link Link 8. Expected, unexpected, good and bad aggregate uncertainty
Uribe, Jorge; Chuliá, Helena;2023
Type: Aufsatz in Zeitschrift; Article in journal;
Availability: Link Link
9. Risk spillovers between global corporations and Latin American sovereigns : global factors matter
abstractThis paper studies volatility spillovers in credit default swaps (CDS) between the corporate sectors and Latin American countries. Daily data from October 14, 2006, to August 23, 2021, are employed. Spillovers are computed both for the raw data and for filtered series which factor out the effect of global common factors on the various CDS series. Results indicate that most spillovers occur within groups-that is, within the series of sovereign CDS contracts and the price contracts of CDS issued by global corporations. However, considerable spillovers are also registered between LAC sovereigns and corporations. Interesting differences are encountered between filtered and unfiltered data. Specifically, spillovers from countries to corporations are overestimated (by about 4.3 percentage points) and spillovers from corporations to sovereigns are underestimated (by about 5.8 percentage points) when unfiltered data are used. This result calls for a revision of results obtained from studies that do not consider the role played by global common factors in system spillovers. Like in most related studies, spillovers show considerable time variation, being larger during times of financial or economic distress. When looking at total system spillovers over time, those corresponding to unfiltered series are always larger than those corresponding to filtered series. The difference between the two time series is largest in times of distress, indicating that global factors play a major role in times of crisis. Similar conclusions are derived from network analysis.
Gómez González, José Eduardo; Uribe, Jorge; Valencia, Oscar M.;2022
Type: Graue Literatur; Non-commercial literature; Arbeitspapier; Working Paper;
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Link Link 10. Sovereign risk and economic complexity
Gómez González, José Eduardo; Uribe, Jorge; Valencia, Oscar M.;2024
Type: Working Paper;
Availability:
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