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Climate Change Uncertainty Spillover in the Macroeconomy
Barnett, Michael; Brock, William A.; Hansen, Lars Peter - National Bureau of Economic Research - 2021
in the future. We appeal to decision theory under risk, model ambiguity and misspecification concerns to provide an … into a low dimensional characterization that depends on the uncertainty aversion of a decision-maker or fictitious social …
Persistent link: https://www.econbiz.de/10012599354
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Risk Price Dynamics
Borovička, Jaroslav - 2009
We present a novel approach to depicting asset pricing dynamics by characterizing shock exposures and prices for alternative investment horizons. We quantify the shock exposures in terms of elasticities that measure the impact of a current shock on future cash-flow growth. The elasticities are...
Persistent link: https://www.econbiz.de/10012463143
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Beliefs, Doubts and Learning : Valuing Economic Risk
Hansen, Lars Peter - 2007
decision theory to characterize when learning or discriminating among competing probability models is challenging. I also use …
Persistent link: https://www.econbiz.de/10012465708