How to incorporate hard-to-measure assets into the wealth tax? We analyze the effect of an optimal wealth tax on risk …, actually larger than the risk-free market rate of return. The market equilibrium and a proportional tax on the market portfolio … will ensure an efficient risk allocation between private and public consumption and across projects. Failing to apply an …

We study how background health risk affects financial risk-taking. We elicit financial risk-taking behavior of a … infections across time and space, we find that an increase in infections affecting background health risk translates into higher … financial risk-taking, and for the alleviating effect of self-insurance devices. …

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. …

degree of pessimism of the representative agent is the mean of the individual ones weighted by their index of absolute risk …

worth, the evaporation of liquidity and rising risk premia are the key channels through which geopolitical uncertainty …

A healthy financial system encourages the efficient allocation of capital and risk. The collapse of the house price … stochastic optimal control (SOC)/dynamic risk management is a much more effective approach to determine the optimal degree of … leverage, the optimum and excessive risk and the probability of a debt crisis. The theoretically founded early warning signals …

. The pandemic risk cannot be mutualized since it affects simultaneously a large number of businesses, and furthermore, it … risk coverage mechanisms based on a portfolio of financial securities, including long-short positions and options in stock … conclusions are derived from a theoretical model of corporate risk management, and they are illustrated by numerical simulations …