In this paper, we empirically assess the causal links between trade and individual income risk and study the role that … human capital plays in this relationship using a rich, worker-level, longitudinal data set from Germany spanning 1976 to … 2012. Our estimates suggest substantial heterogeneity in labor income risk across workers in different entry cohorts and …

. In the process we integrate a Conditional Value at Risk (CVaR) restriction on overall plan costs into the pension manager …

risk. This study develops the concept of "political risk" as the possibility that some future legislature will be forced to … and macroeconomic variables that support it. Thus there is a "political risk" to participants that might be compared to … the "market risk" in a personal accounts retirement scheme. In this paper, we carry out a detailed quantitative analysis …

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 …