component that is attributed to risk-averse liquidity provision and a component that is attributed to private information or …-contrarian" behavior). The latter behavior, which could be consistent with profit-taking, has the potential to slow down the adjustment of …

has proved difficult in practice, because the presence of a timevarying risk premium often renders the futures price a … be recovered by adjusting the futures price by the estimated risk premium, a common problem in applied work is that there … are as many measures of market expectations as there are estimates of the risk premium. We propose a general solution to …

We analyze how changes in government policy affect stock prices. Our general equilibrium model features uncertainty … average. The price fall is expected to be large if uncertainty about government policy is large, as well as if the policy … change is preceded by a short or shallow downturn. Policy changes increase volatility, risk premia, and correlations among …

range of specific outcomes, allowing us to measure uncertainty, assess its driving forces, and compare this measure of … uncertainty with the dispersion of point-estimates among individual forecasters (a measure of disagreement). We also assess the …. Finally we assess the role of risk, finding little evidence that risk-aversion drives a wedge between market prices and …

This paper analyses the impact of public disclosure of banks’ risk exposure on banks’ risk taking incentives and its … their loan portfolio, public disclosure reduces the probability of banking crises. When asset risk is driven largely by … between asset risk and the deposit rate demanded by informed depositors. …

This paper studies the impact of competition on the determination of interest rates, and on banks’ risk taking … lower entry costs foster competition in deposit rates and reduce banks’ incentives to limit risk exposure. While higher … insurance coverage amplifies this effect, two alternative arrangements (risk based contributions to the deposit insurance fund …