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Optimal Sovereign Debt Relief and Exclusion with Unobservable Physical Capital (2024)
Journal Article
Marsiliani, L., Renström, T. I., & Yaisawang, N. (2024). Optimal Sovereign Debt Relief and Exclusion with Unobservable Physical Capital. Theoretical Economics Letters, 14(1), 321-349. https://doi.org/10.4236/tel.2024.141018

We investigate the optimum lending arrangements when there is the possibility of partial default, in addition to full default, when physical capital is unobservable. In a model calibrated on Argentina, we find an optimal debt reduction of 39%, and op... Read More about Optimal Sovereign Debt Relief and Exclusion with Unobservable Physical Capital.

Theory of Socially Responsible Investment: A Review (2023)
Book Chapter
Marsiliani, L., Naga, L., Renström, T. I., & Spataro, L. (2023). Theory of Socially Responsible Investment: A Review. In L. Spataro, M. C. Quirici, & G. Iermano (Eds.), ESG Integration and SRI Strategies in the EU (11-45). Palgrave Macmillan. https://doi.org/10.1007/978-3-031-36457-0_2

Socially responsible investment (SRI), where individuals look beyond financial payoffs to integrate environmental, social and governance (ESG) factors into their investment decisions, is not fully explained by standard models of preferences. Conseque... Read More about Theory of Socially Responsible Investment: A Review.

The Vulnerability to Oil Price Shocks of the Bangladesh Economy (2022)
Book Chapter
Amin, S., Marsiliani, L., Renström, T., & Taghizadeh-Hesary, F. (2022). The Vulnerability to Oil Price Shocks of the Bangladesh Economy. In F. Taghizadeh-Hesary, & D. Zhang (Eds.), The Handbook of Energy Policy. Springer Verlag. https://doi.org/10.1007/978-981-16-9680-0_36-1

The economic impacts of oil price shocks have been widely examined since the first oil crisis of 1973. However, most of the earlier studies have primarily focused on advanced economies while emerging countries have received less attention. In Banglad... Read More about The Vulnerability to Oil Price Shocks of the Bangladesh Economy.

Decarbonisation Policies and Energy Price Reforms in Bangladesh (2022)
Journal Article
Amin, S., Jamasb, T., Llorca, M., Marsiliani, L., & Renström, T. (2022). Decarbonisation Policies and Energy Price Reforms in Bangladesh. Energy Policy, 170, Article 113224. https://doi.org/10.1016/j.enpol.2022.113224

Bangladesh electricity sector suffers from heavy subsidization of fossil fuels and regulated electricity prices. These interventions distort the fuel mix in electricity production, promote overconsumption of fossil fuels and slow down the low-carbon... Read More about Decarbonisation Policies and Energy Price Reforms in Bangladesh.

The Case of Waste to Energy in Bangladesh (2022)
Book Chapter
Amin, S., Jamasb, T., Llorca, M., Marsiliani, L., & Renstrom, T. (2022). The Case of Waste to Energy in Bangladesh. In L. Arthur, M. Hughes, & D. Hondo (Eds.), Prospects for Transitioning from a Linear to Circular Economy in Developing Asia (127-144). Asian Development Bank Institute