the U.S. would experience a sudden stop of capital flows, which would unavoidably drag the world economy into a deep … instead that the root imbalance was of a different kind: The entire world had an insatiable demand for safe debt instruments … of exposing the economy to a systemic panic. This structural problem can be alleviated if governments around the world …

Global risk-off shocks can be highly destabilizing for financial markets and, absent an adequate policy response, may …-put framework that reduced the persistence of risk-off shocks. We also show that domestic macroeconomic and financial conditions … play a key role in benefiting from the spillovers of these policies during risk-off episodes. Countries like Japan, which …

.1 percent of world population, implying 150 million deaths when applied to current population. Regressions with annual …

equity premium involves a race between `alpha` and the coefficient of relative risk aversion, `gamma`. A higher `alpha …

behind this crisis is the large demand for riskless assets from the rest of the world. In this paper we present a model to … downturn by concentrating risk onto its balance sheet. In addition to highlighting the role of capital flows in facilitating … concern with capital flows is in their speculative nature, in the U.S. the risk in capital inflows derives from the opposite …

by at least 10%. The principal world economic crises ranked by importance are World War II, World War I and the Great … Depression, the early 1920s (possibly reflecting the influenza epidemic of 1918-20), and post-World War II events such as the …" coefficient of relative risk aversion of 3.5. This result is robust to a number of perturbations, except for limiting the sample …

with key asset-pricing observations. If the coefficient of relative risk aversion equals 3-4, the model accords with … observed equity premia and risk-free real interest rates. If the intertemporal elasticity of substitution is greater than one … welfare cost of aggregate consumption uncertainty. In the baseline simulation, the welfare cost of disaster risk is large …

Questions about current and prior religion adherence from the International Social Survey Program and the World Values …