If commercial producers or financial investors use futures contracts to hedge against commodity price risk, the … arbitrageurs who take the other side of the contracts may receive compensation for their assumption of nondiversifiable risk in the … structure to commodity futures prices, and develop new algorithms for estimation of such models using unbalanced data sets in …

Network, established in 2012, brings together researchers from around the world with access to micro-level data on individual … studies conducted in eleven countries to explore liquidity risk transmission. Among the main results is, first, that … explanatory power of the empirical model is higher for domestic lending than for international lending. Second, how liquidity risk …

climate change although toward the low end. In any given year a small likelihood exists that the world will again suffer a … since 1700, could lead to 2 million or more excess deaths. World Bank and other work has assessed the probable income loss … risk, a value that GNI fails to capture. In this paper we use findings from that literature to generate an estimate of …

the VIX causing the risk to flow to commercial hedgers. By exploiting a cross-section of traders, we provide micro …-level evidence for a convective flow of risk from distressed financial traders to the ultimate producers of commodities in the real …

, noting that according to a simple model of futures arbitrage, if index-fund buying influences prices by changing the risk …