NJ fear-mongers add climate panic to COVID fear nj1015.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nj1015.com Daily Mail and Mail on Sunday newspapers.
Wintertime outbreaks of COVID-19 have been largely driven by whether people adhere to control measures such as mask wearing and social distancing, according to a study by researchers affiliated with the Climate Change and Infectious Disease initiative based in Princeton University s High Meadows Environmental Institute. Climate and a lack of population immunity are playing smaller roles during the pandemic phase of the virus, but will become more impactful as infections slow.
Introduction
Unexpected shocks may tip countries with elevated fiscal vulnerabilities into default. The literature has emphasized the role of macroeconomic and financial shocks, such as a decline of commodity prices (Reinhart et al., 2016) or banking crises (Baltenau and Erce, 2018) in shaping sovereign risk. However, other types of shocks, such as political events or natural disasters, are equally important.
2 Extreme weather events appear especially salient in light of the key role played by natural disasters in recent sovereign default episodes (i.e. Grenada 2004, and Antigua y Barbuda 2004 and 2009), the climate crisis, and the recent emphasis on incorporating natural-disaster risk as a component of macroeconomic risk management. In particular, the increase in the frequency and intensity of natural disasters, has led several economists and policy makers to advocate in favor of adopting disaster clauses that allow for a temporary debt moratorium when countries are hit by catas