Value at Risk has become the standard measure of market risk employed by financial institutions for both internal and regulatory purposes. Despite its conceptual simplicity, its measurement is a very challenging statistical problem and none of the methodologies developed so far give satisfactory...

We distinguish the measure of risk aversion from the slope coefficient in the linear relationship between the mean excess return on a stock index and its variance. Even when risk aversion is constant, the latter can vary significantly with the relative share of stocks in the risky wealth...

This paper surveys and critiques various methods of measuring nontariff trade measures (NTMs) for the purpose of determining which seem most promising for facilitating the process of reducing the trade-distorting effects of such policies through multilateral negotiations. Four measurement...