There has been a revival of interest in the effect of risk on economic growth. We quantify both ex ante and ex post … effects of risk using a stochastic version of the Ramsey model. We develop a simulation-based econometric methodology which … remarkable long-running panel data set for rural households in Zimbabwe. We find that risk substantially reduces growth: in the …

Risk attitude and perception is reflected in brain reactions during RPID experiments. Given the fMRI data, an important … research question is how to detect risk related regions and to investigate the relation between risk preferences and brain … method improves the quality of spatial representations and guarantees the contiguity of risk related regions. The selected …

This paper documents a marked increase in international consumption risk sharing throughout the recent globalization … measure long-run risk sharing among OECD countries and US federal states. We derive our empirical setup from a deliberately … to identify the channels through which improvements in international risk sharing have come about. The model predicts …