Special Papers

Climate change has become a major topic of discussion at central banks and financial regulators. Key aspects of this debate include whether and how...

We use simple accounting measures to estimate the share of private manufacturing firms in financial distress under a hypothetical scenario of losing...

While it is too early to say how the disruptions caused by the COVID-19 pandemic will ultimately affect emerging market economies (EMs), experience...

With lockdown measures in place worldwide, cash-flow represents a significant concern for firms across multiple sectors. This chapter estimates the...

Non-supervisory bank stress testing is becoming firmly embedded in the post-crisis macroprudential frameworks of major financial sectors around the...

Artificial intelligence (AI) is rapidly changing how financial institutions are operated and regulated. The authors discuss the benefits and danger...

This special paper discusses the inclusion of the Chinese Renminbi in the international reserve asset Special Drawing Right (SDR) created by the...

The 2007/9 crisis and the ongoing transformation of the global economy call for a rethink of the scope of the Fund’s multilateral surveillance. This...

What makes futures hedge funds fail? The common ingredient is over betting and not being diversified in some bad scenarios that can lead to disaster...

This paper examines the concept of systemic risk and provides an intuitive account of the economic thought on systems and the development of the...

SRC researchers were involved in a study that explores how computer generated trading in financial markets will evolve over the next 10 years. The...