From 1963 through 2015, idiosyncratic risk (IR) is high when market risk (MR) is high. We show that the positive … relation has roots in fundamentals as higher market risk predicts greater idiosyncratic earnings volatility and as firm …

idiosyncratic risk is higher in industries where the extent of creative destruction is likely to be greater …

Are fluctuations in firms' profitability risk a major cause of regular business cycles? We study this question within … such a model, surprise increases of risk lead to a wait-and-see policy for investment at the firm level and a decrease in … the size of firm-level risk fluctuations. We find that time-varying firm-level risk on its own is unlikely to be a major …

"This paper studies empirically the relationship between trade policy and individual income risk faced by workers, and … three steps. First, longitudinal data on workers are used to estimate time-varying individual income risk parameters in … various manufacturing sectors. Second, the estimated income risk parameters and data on trade barriers are used to analyze the …

Empirical work testing for a negative tradeoff between risk and incentives, a cornerstone of agency theory, has not had …

's systematic equity risk and falls with the firm's unsystematic equity risk. Further, an increase in the firm's total equity risk … is associated with a fall in q. The negative relation between the change in total risk and the change in q is robust …

implications of risky behaviors by youths. I begin by reviewing perspectives on youth risk-taking from traditional rational … risk-taking by youths, and how this compares to adults. I review the evidence on youth risk taking from the studies in this … risk taking by youths, (b) despite this, these factors are not very successful in predicting the dramatic time series …