Cascading tipping points of Antarctica and the Southern Ocean.

Antarctica and the Southern Ocean are key elements in the physical and biological Earth system. Human-induced climate change, and other human activities in the region, are leading to several potential interacting tipping points with major and irreversible consequences. Here, we examine eight potential physical, biological, chemical, and social Antarctic tipping points.

The impact of commodity price volatility on fiscal balance and the role of real interest rate.

The objective of this study is to explore the impact of commodity price volatility on the governments' fiscal balance. Using a dynamic panel data model for 108 countries from 1993 to 2018, this study finds that governments' fiscal balance deteriorates with commodity price volatility, especially for commodity-exporting economies. A one standard deviation increase in commodity price volatility leads to a reduction of approximately 0.