changes in global risk (VIX). We find that inertia (whether the bond behaved as a safe asset in the past) and good … on whether the change in global risk is driven by financial shocks rather than by US monetary policy …

We use cross-country microdata to analyse the risk taking of households in Europe and the US. Concerning the extensive … inside Europe we document substantial differences. Furthermore, average risk aversion is strongly correlated with the share … explainable by household characteristics as well as differences in risk aversion and a remainder. We employ the unexplained part …

factor risk model, when augmented with reference returns, is capable of generating visually consistent return distributions …

In this paper, we examine the performance and robustness of optimised interest-rate rules in four models of the euro …

uncertainty and possible equation misspecifications and approximations. This correction sensibly enhances the robustness of the …

implications of its risk-taking for the wider financial system and real economy. This paper provides empirical evidence for the … existence of widespread risk-taking incentives in the investment fund sector, with a particular focus on incentives for … synchronised, cyclical risk-taking which could have systemic effects. Incentives arise from the positive response of investors to …

to assess the quantitative relevance of the imperfect information problem and to evaluate the robustness of previous …