Author/Editor: Alejandro D Guerson.

Release Date:September, 2021

This paper shows that the optimal sovereign lending contract is state-contingent when a government can default. It provides a theoretical basis for the specification of optimal state-contingent debt more...

Author/Editor: Alejandro D Guerson.

Release Date:July, 2021

This paper quantifies the savings obtained from risk pooling with a Regional Stabilization Fund (RSF) for the Eastern Caribbean Currency Union. A Monte Carlo experiment is used to estimate the size more...

Author/Editor: Alejandro D Guerson.

Release Date:December, 2020

This paper estimates insurance requirements against natural disasters (NDs) in the Eastern Caribbean Currency Union (ECCU) using an insurance layering framework. The layers include a government more...

Author/Editor: Balazs Csonto, Alejandro D Guerson, Alla Myrvoda, Emefa Sewordor.

Release Date:July, 2018

This paper applies network analysis to assess the extent of systemic vulnerabilities in the ECCU banking system. It includes two sets of illustrative stress tests. First, solvency and liquidity more...

Author/Editor: Alejandro D. Guerson.

Release Date:December, 2015

This paper explores inflation dynamics and monetary policy in Bolivia. Bolivia’s monetary policy framework has been effective in stabilizing inflation in recent times. This has been a more...

Author/Editor: Alejandro D. Guerson, Giovanni Melina.

Release Date:August, 2011

This paper proposes a fiscal policy framework we call Public Debt Targeting. The framework seeks to smooth primary spending over the business cycle while remaining consistent with public debt more...