This paper considers the meaning of domestic and international systemic risk. It examines scenarios that have been … adduced as creating systemic risk both within countries and among them. It distinguishes between the concepts of real and … pseudo-systemic risk. We examine the history of episodes commonly viewed either as financial crises or as evidencing systemic …

, and near-frictionless refinancing opportunities---led to vastly increased systemic risk in the financial system …

markets that had no connection to housing. We find that changes in the "LIB-OIS" spread, a proxy for counterparty risk, was …

warming, specifically, long-run temperature shifts. We find that global warming carries a positive risk premium that increases … projected temperature path, the observed consumption growth dynamics, discount rates provided by the risk-free rate and equity …

towards risk. We find that the uncertainty associated with anthropogenic climate change imply carbon taxes much higher than …

accounts for the interaction between temperature, economic growth and risk. The model simultaneously matches the projected … temperature path, the observed consumption growth dynamics, discount rates provided by the risk-free rate and equity market …