a given level of spending—in these countries. This study analyses such risks and develops measures of fiscal risk … much less vulnerable to fiscal risk than is indicated by standard measures based on break-even prices.. …

PROBABILITY AND DEFAULT CORRELATION, IN STCDOS -- IV. IDIOSYNCRATIC AND SYSTEMIC RISK IN STCDO TRANCHES -- V. DATA AND EMPIRICAL …

Intro -- Contents -- I. INTRODUCTION -- II. MEASUREMENT OF MARKET RISK -- III. MEASUREMENT OF CREDIT RISK -- IV …. MEASUREMENT OF LIQUIDITY RISK -- V. AN INTEGRATED APPROACH TO RISK SENSITIVITY FOR A SECURITY WITH N RISK FACTORS -- VI. AN … INTEGRATED APPROACH TO RISK SENSITIVITY FOR A PORTFOLIO WITH N RISK FACTORS -- VII. EPILOGUE -- YIELD DEFINITIONS -- THE VALUE-AT-RISK …

consumption across countries from the predictions of models with full risk sharing. It is commonly believed that these risk … that the full risk sharing equilibrium may not require much diversification of equity portfolios when there is price …

Though theory suggests financial globalization should improve international risk sharing, empirical support has been … limited. We develop a simple welfare-based measure that captures how far countries are from the ideal of perfect risk sharing …. We then take it to data and find international risk sharing has, indeed, improved during globalization. Improved risk …

important source of consumption risk as two thirds of households are involved in some level of agricultural production. For … South Africa, we focus on labor market risk proxied by transitions from formal employment to informal work or unemployment …