As China’s financial system has become more complex and integrated, calls have intensified for structural reform. In particular, many commentators have called for China to move towards the twin peaks model of financial regulation along the lines of the experience in Australia. This paper explores the insights that China might glean from the experience in...

Fertility patterns in the world have changed dramatically over the last few decades. Global fertility has reached unprecedented low levels, yet stark differences persist in childbearing patterns across countries and regions. The population and development implications of these diverse fertility patterns are directly relevant for the implementation of the 2030 Agenda for Sustainable Development and...

At the request of the Alliance for Financial Inclusion’s Pacific Islands Working Group (PIWG), the Pacific Financial Inclusion Programme (PFIP)3 contracted Jonathan Greenacre, a consultant, to analyse the trust arrangements used by e-money issuers in the following Pacific countries: Fiji, Papua New Guinea, Samoa, Tonga, and Vanuatu (collectively termed ‘Pacific focus countries’ in this document)...

This study analyzes systematic and non-systematic credit risk in mortgage portfolios given US loan-level information by controlling for time-varying observable information in relation to the borrower, the collateral and the macro economy. The total risk in relation to rating class default rates is decomposed into systematic and class-specic non-systematic risk by a state space model...

Reducing the overall number of deliberate bushfires not only reduces the amount of damage they cause, it frees up resources to fight and investigate the most serious fires.