with the Arrow/Romer approach to endogenous growth to analyze the interaction of risk, growth, and inequality, the latter …. Major results include that growth, inequality, and risk are positively related in our model, but we also identify a hump …–shaped relationship between welfare and risk, indicating a tradeoff relationship between risk–pooling and growth in the determination of …

of IEA formation when countries are risk neutral and another that explores the implications of uncertainty and risk …This paper analyses the formation of international environmental agreements (IEAs) under uncertainty, focusing on the … role of learning and risk aversion. It bridges two strands of literature: one focused on the role learning for the success …

We examine the impact of uncertainty on employment dynamics. Alternative measures of uncertainty are constructed based … stock price index, and fuel prices. Our results indicate that greater uncertainty has a negative impact on growth of … non-existent or weaker. Our results suggest that to truly understand the effects of uncertainty on employment dynamics, we …

environments modify students’ risk-taking attitudes. In Booth and Nolen (2012b), subjects are in years 10 and 11, while in Booth … they behave the same as the males. Thus part of the observed gender difference in behavior under uncertainty found in …

literature that, when there is (only) risk type uncertainty, the optimal GR contract with renewal price set at the actuarially … fair price for low risk types provides full insurance against reclassification risk. We develop a model that includes … unpredictable (and unobservable) fluctuations in demand for life insurance as well as changes in risk type (observable) over …

Consider legal uncertainty as uncertainty about the legality of a specific action. In particular, suppose that the … threshold of legality is uncertain. I show that this legal uncertainty raises welfare. Legal uncertainty changes deterrence in … decreases for firms above the threshold. Hence, legal uncertainty acts as a welfare enhancing screen and increases welfare …

Is time-varying firm-level uncertainty a major cause or amplifier of the business cycle? This paper investigates this … adjustment, where cyclical changes in uncertainty correspond naturally to cyclical changes in the cross-sectional dispersion of …-level uncertainty varies over the cycle. This allows us to put empirical discipline on our numerical simulations. We find that, while …

-probability extreme events on environmental policy in a continuous-time real options model with “tail risk”. In a nutshell, our results … indicate the importance of tail risk and call for foresighted pre-emptive climate policies …

Why are better educated and more risk-friendly persons more mobile across regions? To answer this question, we use … patterns. Our findings indicate that risk-loving and skilled people are more mobile over longer distances because they are more … distance-related migration costs cannot explain the lower distance sensitivity of educated and risk-loving individuals …