risk premia may accrue unevenly during the calendar year, and the pattern may be transferred to government bond prices. We … for the predicted component, linking the sources of the phenomenon with macroeconomic risk factors …

Due to arbitrage risk asymmetries, the relationship between idiosyncratic risk and expected returns is positive … of idiosyncratic risk from the alternative models and throughout different periods …

Using a news-based gauge of geopolitical risk, we study its role for asset pricing in global emerging markets. We find … that changes in risk positively predict future stock returns. The countries with the highest increase in geopolitical …

We examine the role of geopolitical risk in the cross-sectional pricing of cryptocurrencies. We calculate … cryptocurrency exposure to changes in the geopolitical risk index and document that coins with the lowest geopolitical beta … outperform those with high geopolitical beta. Our findings suggest that risk-averse investors require additional compensation as …

employ wavelet coherence analysis to study the impact of geopolitical risk on various types of securities. We found that … different asset classes exhibited unequal risk sensitivity in both magnitude and timescale. Bonds and stocks displayed strong …, silver, and oil proved the most resistant to geopolitical risk fluctuations. Hence, they may serve as the best hedge against …