risk premium, even though the macroeconomic fundamentals were dismal? Why did financial markets fail to exercise market … discipline and restrict capital flows to Puerto Rico? Given gloomy macroeconomic fundamentals and relatively low risk premia … cases, with the exact same maturity. The associated bond price data allow for an accurate computation of the risk premia on …

risk premium, even though the macroeconomic fundamentals were dismal? Why did financial markets fail to exercise market … discipline and restrict capital flows to Puerto Rico? Given gloomy macroeconomic fundamentals and relatively low risk premia … cases, with the exact same maturity. The associated bond price data allow for an accurate computation of the risk premia on …

We employ a unique hand-collected dataset and a novel methodology to examine systemic risk before and after the largest … U.S. banking crisis of the 20th century. Our systemic risk measure captures both the credit risk of an individual bank … that we can measure how predisposed the entire network was to risk, where risk was concentrated, and how the failure of …

We propose and implement a procedure to dynamically hedge climate change risk. We extract innovations from climate news … change hedge portfolios. We discipline the exercise by using third-party ESG scores of firms to model their climate risk … approaches to managing climate risk …

allows efficient risk sharing between the issuer and stablecoin users. …

, collateral values, and debt limits. We show that the collateral premium of a durable asset will become the lowest right before a …

, since retrading allows partial insurance of idiosyncratic risk in an incomplete markets setting. This lowers the issuers … idiosyncratic risk rises during recessions, so does the value of the service flows bestowing the safe asset with a negative ß. This …