that they would be exposed to risk from fluctuations in their electricity cost. The concern seems to be that a customer … larger than it had budgeted for. I analyze the magnitude of this risk, using demand data from 1142 large industrial customers …, and then ask how much of this risk can be eliminated through various straightforward financial instruments. I find that …

Many people assume that the most significant risk in the housing market is that homeowners are exposed to fluctuations … finds that, even though house price risk endogenously increases with rent risk, the latter empirically dominates for most … households so housing market risk actually increases homeownership rates and house prices. Further, the net effect of rent risk …

portfolios could hedge some of the risk of default by taking positions in futures or options markets for residential real estate …

comparable to that of returns in stock markets. Evidence is shown that there may be only minimal possibility of cross hedging … examined. Such markets, by allowing hedging of these aggregate income risks, might make for dramatically more effective … international macroeconomic risk sharing than is possible today. Retail institutions are described that might develop around such …

We propose and implement a procedure to dynamically hedge climate change risk. To create our hedge target, we extract … hedge portfolios. We discipline the exercise by using third-party ESG scores of firms to model their climate risk exposures …. We show that this approach yields parsimonious and industry-balanced portfolios that perform well in hedging innovations …

a simple extension of the long-run risk model … risks. Portfolios hedging macro uncertainty have historically earned zero or even significantly positive returns, while …

the unpriced risk. We apply our methodology to hedge out unpriced risk in the Fama and French (2015) five-factors. We find …

reasons. The main reason in the case of advanced Asia (especially Japan) appears to be higher risk-adjusted returns, whereas …

priced. These results present a challenge to most structural models of the variance risk premium, such as the intertemporal … CAPM, recent models with Epstein-Zin preferences and long-run risks, and models where institutional investors have value-at-risk …

common practice of categorically classifying trading by hedgers as hedging while trading by speculators as speculation, as …