government spending can bolster support for globalization by reducing the risk associated with it in the minds of voters …This paper uses international survey data to document two stylized facts. First, risk aversion is associated with anti …

In the wake of the 1997-98 financial crises, interest rates in Asia were raised immediately, and then reduced sharply …

. First, the introduction of the Euro currency unit greatly reduces the complexity of including foreign exchange risk in asset … currency risk factors. Second, when combining the currency factors with a group of economic factors, we measure the incremental … explanatory power over and above a model that includes economic risk factors …

nature where consumption is most valuable. Trade creates value, in part, by offering a mechanism to share risk and risk …

This paper presents a theoretical study of the e¤ects of globalization on risk sharing and welfare. We model … globalization still opens new goods markets, we find that it can also open or close some asset markets. The net e¤ect on risk … globalization as a gradual and exogenous increase in the fraction of goods that are tradable. In the absence of frictions …