argument becomes defensible after the relationship between risk and uncertainty is understood, after the dynamic interaction of … politics of risk measurement and assessment, of compensation and prevention, and of management and resolution. After outlining … vertreten zu können, muss zunächst die Beziehung zwischen Risiko und Unsicherheit nachvollzogen sowie die dynamische Interaktion …

result is statistically significant. Controlling for risk tolerance heterogeneity yields identical results …

impact upon international risk sharing. The empirical literature so far has only investigated on one aspect of globalization … standard framework of consumption insurance tests to gauge the extent of risk sharing among countries, we obtain some … interesting results. One of the main findings is that economic and social integration help better cope with idiosyncratic risk …

bonds, greater risk-bearing capacity in the U.S. than the rest of the world, and nominal rigidities. A flight to safety … generates a dollar appreciation and decline in global output. Dollar bonds thus command a negative risk premium and the U ….S. holds a levered portfolio of capital financed in dollars. We quantify the effects of safety shocks and heterogeneity in risk …

, analyze, and manage macroeconomic risk based on the theory and practice of modern contingent claims analysis (CCA). We … illustrate how to use the CCA approach to model and measure sectoral and national risk exposures, and analyze policies to offset … their potentially harmful effects. This new framework provides economic balance sheets for inter-linked sectors and a risk …