We propose several econometric measures of systemic risk to capture the interconnectedness among the monthly returns of … find that all four sectors have become highly interrelated over the past decade, increasing the level of systemic risk in … of market dislocation, and systemic risk arises from a complex and dynamic network of relationships among hedge funds …

We develop a macroeconomic model with physical and human capital, human capital risk, and limited contract enforcement …. We show analytically that young (high-return) households are the most exposed to human capital risk and are also the … least insured. We document this risk-insurance pattern in data on life-insurance drawn from the Survey of Consumer Finance …

-seeking behavior by firms. Firms with high liquidity risk are likely to use cash rather than credit lines for liquidity management … because the cost of monitored liquidity insurance increases with liquidity risk. We exploit a quasi-experiment around the … downgrade of General Motors (GM) and Ford in 2005 and find that firms that experienced an exogenous increase in liquidity risk …

review indicates that the FHA will not need any form of government support. We identify four risk factors that make such a … accuracy of FHA risk assessment …

the most important sources of individual risk and cross-sectional heterogeneity? Second, what are individuals' key … channels of insurance? Third, how does idiosyncratic risk interact with aggregate risk? …

-household income insurance mechanism strongly biases upward the welfare losses from idiosyncratic wage risk as well as the desired …