In this paper we use administrative data from the social security to study income dynamics and income risk inequality … in Spain between 2005 and 2018. We construct individual measures of income risk as functions of past employment history …, income, and demographics. Focusing on males, we document that income risk is highly unequal in Spain: more than half of the …

: 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 theoretical conclusions that both financial risk alone and the interaction between … empirical analysis performed with one-argument utility functions. Finally, we provide new estimates of indexes of relative risk …

extended model with an infinite horizon, idiosyncratic risk and more realistic assumptions is used to demonstrate the general …

This paper proposes a model of sovereign default that features interest rate multiplicity driven by rollover risk. Our … reinforces the rollover risk. By exploiting complementarity between the traditional notions of slow- and fast-moving crises, our … shocks to fundamentals. In the presence of risky income, our mechanism amplifies the dynamics of debt and spreads relative to …

risk measures for portfolios with infrequently traded securities have not been explored in the literature. We propose a … methodology to calculate market risk measures based on the Kalman filter which can be used on incomplete datasets. We implement … our approach in a fixed income portfolio within a thin trading environment. However, a similar approach may be also …

dividends next period as ambiguous. We calibrate the agent's ambiguity aversion to match only the first moment of the risk …