Bella Yao's Books

Embedded in Nature

Nature-Related Economic and Financial Risks and Policy Considerations

By: Charlotte Gardes-Landolfini,William Oman,Jamie Fraser,Mariza Montes de Oca Leon,Bella Yao

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Embedded in Nature

Nature-Related Economic and Financial Risks and Policy Considerations

By: Charlotte Gardes-Landolfini,William Oman,Jamie Fraser,Mariza Montes de Oca Leon,Bella Yao

The economy is embedded in, and dependent on, nature. Yet economic activity is degrading nature at an unprecedented pace. Interacting with climate change, nature loss and transformation generates significant threats to the global economy and financial system. However, work on the implications of nature-related risks for macroeconomic and financial sector policies remains at an early stage. This note seeks to contribute to this emerging policy space in three main ways: (i) it proposes a conceptual framework for understanding nature-related risks by mapping out macroeconomic transmission channels, emphasizing their impact on the economy and financial systems through “double materiality;” (ii) it conducts empirical analysis, finding that nearly 38 percent of bank loans of the 100 largest global banks are to harmful subsidies-dependent sectors and 44 percent are exposed to conservation areas under the Global Biodiversity Framework, and that industries most exposed to nature degradation are not well prepared to manage these risks; and (iii) it discusses takeaways for macroeconomic and financial sector policies and frameworks.

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International Monetary Fund

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ISBN 13

9798400288548

Structural Reforms to Accelerate Growth, Ease Policy Trade-offs, and Support the Green Transition in Emerging Market and Developing Economies

By: Mrs. Nina Budina,Mr. Christian H Ebeke,Ms. Florence Jaumotte,Andrea Medici,Augustus J Panton,Marina M. Tavares,Bella Yao

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Structural Reforms to Accelerate Growth, Ease Policy Trade-offs, and Support the Green Transition in Emerging Market and Developing Economies

By: Mrs. Nina Budina,Mr. Christian H Ebeke,Ms. Florence Jaumotte,Andrea Medici,Augustus J Panton,Marina M. Tavares,Bella Yao

In the aftermath of the COVID-19 pandemic, emerging market and developing economies are grappling with economic scarring, social tension, and reduced policy space. Policy actions are already urgently needed to boost growth in the near term and support the ongoing green transition. At the same time, high public debt and persistently high inflation have constrained policy space, posing difficult policy trade-offs. This Staff Discussion Note focuses on emerging market and developing economies and proposes a framework for prioritization, packaging, and sequencing of macrostructural reforms to accelerate growth, alleviate policy trade-offs, and support the green transition. The note shows that prioritizing the removal of the most binding constraints on economic activity, bundling reforms (governance, business deregulation, and external sector reforms), and appropriate sequencing of other reforms (such as labor market and credit sector reforms) can help front-load reform gains. In emerging market and developing economies with large initial structural gaps, the estimated output effects of such a major reform package are sizable—about 4 percent in two years and 8 percent in four years. Achieving higher growth and lower absolute carbon emissions over time requires a well-designed strategy that includes both macrostructural and green reforms.

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International Monetary Fund

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ISBN 13

9798400250095

Inequality and Growth

A Heterogeneous Approach

By: Francesco Grigoli,Evelio Paredes,Gabriel Di Bella

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Inequality and Growth

A Heterogeneous Approach

By: Francesco Grigoli,Evelio Paredes,Gabriel Di Bella

The combination of stagnant growth and high levels of income inequality renewed the debate about whether a more even distribution of income can spur economic activity. This paper tests for cross-country convergence in income inequality and estimates its impact on economic growth with a heterogeneous panel structural vector autoregression model, which addresses some empirical challenges plaguing the literature. We find that income inequality is converging across countries, and that its impact on economic growth is heterogeneous. In particular, while the median response of real per capita GDP growth to shocks in income inequality is negative and significant, the dispersion around the estimates is large, with at least one fourth of the countries in the sample presenting a positive effect. The results suggest that the negative effect is mainly driven by the Middle East and Central Asia and the Western Hemisphere across regions, and emerging markets across income levels. Finally, we find evidence that improved institutional frameworks can reduce the negative effect of income inequality on growth.

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International Monetary Fund

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ISBN 10

1475569041

ISBN 13

9781475569049

Formal Correctness of Security Protocols

By: Giampaolo Bella

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Formal Correctness of Security Protocols

By: Giampaolo Bella

The author investigates proofs of correctness of realistic security protocols in a formal, intuitive setting. The protocols examined include Kerberos versions, smartcard protocols, non-repudiation protocols, and certified email protocols. The method of analysis turns out to be both powerful and flexible. This research advances significant extensions to the method of analysis, while the findings on the protocols analysed are novel and illuminating.

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281

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Springer Science & Business Media

Published Date

ISBN 10

3540681361

ISBN 13

9783540681366

Erectile Dysfunction

By: Rany Shamloul,Anthony J Bella

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Erectile Dysfunction

By: Rany Shamloul,Anthony J Bella

The understanding of the pathophysiology of erectile dysfunction (ED) has advanced significantly over the past two decades. In this ebook, we provide an in-depth analysis of the current knowledge of the pathophysiology of ED in order to provide the reader with an up-to-date and comprehensive understanding of the pathophysiology of ED, which is complex but fascinating. Intensive and intricate mechanisms govern the development of ED. These mechanisms involve complex interaction between vascular, hormonal and neural regulation. Current research on the central regulation of ED is key for the advancement of our understanding of this complex disease. Recent advances in our knowledge of the vascular mechanisms regulating penile erection led to appreciation of ED as an early symptom of cardiovascular disease. Major health concerns such as atherosclerosis, hyperlipidemia, hypertension and diabetes have become well integrated into the investigation of ED. Extensive research on the mechanisms involved in the regulation of penile erection have led to unparalleled advances in the understanding of general vascular regulation. However, many unknowns remain, which provides vast opportunities for future basic and clinical investigations. Table of Contents: Anatomy of the Penis / General Pathophysiology / Diabetes and ED / ED and Cardiovascular Disease / Drugs Causing ED / References / Author Biographies

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Biota Publishing

Published Date

ISBN 10

1615046534

ISBN 13

9781615046539

Fiscal Federalism and Regional Performance

By: Gabriel Di Bella,Oksana Dynnikova,Francesco Grigoli

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Fiscal Federalism and Regional Performance

By: Gabriel Di Bella,Oksana Dynnikova,Francesco Grigoli

Sound regional policies are essential for balanced and sustained economic growth. The interaction of federal and regional policies with cross-regional structural differences affect human and physical capital formation, the business climate, private investment, market depth, and competition. This paper summarizes the main elements of Russia's fiscal federalism, describes the channels through which it operates, and assesses the effectiveness of regional transfers in reducing regional disparities. The results suggest that federal transfers to regions contributed to reducing disparities arising from heterogeneous regional tax bases and fiscal revenues. This allowed regions with initially lower per capita income to increase human and physical capital at higher rates. There is little evidence for transfers contributing to increased cross-regional growth synchronization. The results also suggest that federal transfers did not significantly improve regional fiscal sustainability, a conclusion that is supported by the lack of convergence in per capita real income across Russian regions in the last 15 years.

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