This paper empirically estimates a micro-founded model which studies the macroeconomic impact of environmental and financial risks on consumption choices in the Mediterranean Region. The analysis is carried out using time series aggregate data for fourteen Mediterranean countries over the period...

This paper studies the empirical relationship between consumption and saving under two different sources of uncertainty: financial risk and environmental risk. The analysis is carried out using time series data for six advanced economies in the period 1965-2007. The results support the...

This paper assessed the quantitative impact of ambiguity on historically observed financial asset returns and growth rates. The single agent, in a dynamic exchange economy, treats the conditional uncertainty about the consumption and dividends next period as ambiguous. We calibrate the agent's...

We use a controlled laboratory experiment to study the causal impact of income decreases within a time period on redistribution decisions at the end of that period, in an environment where we keep fixed the sum of incomes over the period. First, we investigate the effect of a negative income...

Seoul has played a leading role in the development of the social economy. It is the capital city of the Republic of Korea as well as the centre of its economic, social, and cultural activities; Seoul possesses abundant resources, relatively mature civil society capabilities, and a city...

Seoul has played a leading role in the development of the social economy. It is the capital city of the Republic of Korea as well as the centre of its economic, social, and cultural activities; Seoul possesses abundant resources, relatively mature civil society capabilities, and a city...

Seoul has played a leading role in the development of the social economy. It is the capital city of the Republic of Korea as well as the centre of its economic, social, and cultural activities; Seoul possesses abundant resources, relatively mature civil society capabilities, and a city...