number of features including potential tail risk, exogenous and endogenous technological change, and backstop technologies … delay. We decompose the optimal carbon price into two components: expected discounted damages and the risk premium …

Are fluctuations in firms' profitability risk a major cause of regular business cycles? We study this question within … such a model, surprise increases of risk lead to a wait-and-see policy for investment at the firm level and a decrease in … the size of firm-level risk fluctuations. We find that time-varying firm-level risk on its own is unlikely to be a major …

. In the process we integrate a Conditional Value at Risk (CVaR) restriction on overall plan costs into the pension manager …

from risk. This study develops the concept of %u201Cpolitical risk%u201D as the possibility that some future legislature … in the demographic and macroeconomic variables that support it. Thus there is a %u201Cpolitical risk%u201D to … participants that might be compared to the %u201Cmarket risk%u201D in a personal accounts retirement scheme. In this paper, we …

insignificant and highly dispersed effects. We argue this was because TRAIL agents selected borrowers that were low-risk and highly …