Climate change is causing the risk of weather events and instable water accessibility, making water insufficiency a serious problem. According to the 2022 Intergovernmental Panel on Climate Change (IPCC), 70% of extreme weather events such as droughts and floods have been water-related in the last 15 years. Since the climate change processes are speeding up, this percentage is expected to increase. A plethora of researchers have been working on the correlation between water scarcity and climate change. The purpose of this paper is to examine the published research dealing with water scarcity and climate. Therefore, the study carries out a scoping review (SR) via text data mining and reveals the related topics. Two kinds of analysis were carried out using IRaMuTeQ software: descriptive analysis (TTR, Giraud index, Herdan index and Zipf’s curve) and cluster analysis (Reinert’s method). The results show that the topic of water scarcity refers to the direct and indirect economic impacts on its availability for irrigation, the willingness to pay more for an irrigation water supply and the role of public institutions in “achieving sustainable development goals”. The conclusion of the paper highlights the role of this analysis for developing future research and identifies implications for theory, practice and policy in order to overcome the current global challenges related to water scarcity and climate change.
In this paper we propose an ambitious reform of the European Stability Mechanism (ESM) to remove two main distortions of the current Eurozone landscape: sovereign yield spreads and large discrepancies in terms of the economic performance. Unlike proposals originated in German or French–German environments which basically pursue risk segregation within peripheral countries, our proposal moves from the recognition that no economic and monetary union can function without sharing risks between the Member States. Hence the idea of turning the European Stability Mechanism into a supranational guarantor of the public debts of all Eurozone governments and reaching—at the end of the transition period—a unique Eurozone federal debt with a unique term structure of interest rates. In return for the savings on the interest expenditure that a similar reform would provide them, risky countries would be required to pay new cash contributions to the ESM capital in the form of marked‐to‐market insurance premiums. This makes the proposal consistent with market logic, matches Germany claims on preventing moral hazard conducts and makes overall more fair and financially sustainable the new ESM set‐up. In addition, the improved capital endowment would allow the Stability Mechanism to keep its moderate leverage unchanged while issuing new liabilities to support high multiplier investments aimed at relaunching peripheral economies and support the re‐alignment of the economic cycles of Eurozone members.
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