that religious membership is more valuable in societies exposed to greater common risk. In our empirical analysis we … exploit rainfall risk as a source of common economic risk in the nineteenth-century United States and show that religious … communities were larger in counties where they faced greater rainfall risk. The link between rainfall risk and the size of …

Mutual fund risk-taking via active portfolio rebalancing varies both in the crosssection and over time. In this paper …, I show that the same is true for funds' off- balance sheet risk-taking, even after controlling for on-balance sheet … information. In the empirical application, I show that German equity funds have increased their risk-taking via synthetic leverage …

or long-term unemployment, may occur during working years. Personal disaster risk alters lifetime ex-ante investment … characterizes rare disasters, results in lower risk-taking at the beginning of working life, and is crucial in order to match the …