studies conducted in eleven countries to explore liquidity risk transmission. Among the main results is, first, that … explanatory power of the empirical model is higher for domestic lending than for international lending. Second, how liquidity risk … management across global banks can be important for liquidity risk transmission into lending. Fourth, there is substantial …

The paper illustrates how one may assess our comprehensive uncertainty about the various relations in the entire chain ….5 deg;C. The 99 percent confidence interval ranges from 3.0 deg;C to 6.9 deg;C. Uncertainty about socio-economic drivers of … climate change lie behind a non-trivial part of this uncertainty about global warming …

towards risk. We find that the uncertainty associated with anthropogenic climate change imply carbon taxes much higher than …There is great uncertainty about the impact of anthropogenic carbon on future economic wellbeing. We use DSICE, a DSGE … implied by deterministic models. This analysis indicates that the absence of uncertainty in DICE2007 and similar models may …

uncertainty, defined as the common volatility in the unforecastable component of a large number of economic indicators. Our … estimates display significant independent variations from popular uncertainty proxies, suggesting that much of the variation in … the proxies is not driven by uncertainty. Quantitatively important uncertainty episodes appear far more infrequently than …

expected exchange rate depreciations (appreciations) for high (low) interest rate currencies, suggesting that disaster risk is … priced in currency markets. To study the price of disaster risk, we propose a simple structural model that includes both … Gaussian and disaster risk and can be estimated even in samples that do not contain disasters. Estimating the model over the …

because the former allows risk sharing across countries while the latter does not. The analysis is performed in a two … demonstrated that the ability to share risk across countries in the fixed rate regime does not necessarily lead to higher welfare … than the inability to share risk in the flexible rate regime …

superior. The intuition is simple: if underlying technologies are not convex, then risk-sharing can lower expected utility. The … likelihood of a bankruptcy cascade, "contagion," and systemic risk …

government's role in promoting risk sharing. Benefits for each retired person may be tied to that person's lifetime income …