In this paper we show that temperature is an aggregate risk factor that adversely affects economic growth. Our argument … temperature (i.e., temperature betas) contains sharp information about the cross-country risk premium; countries closer to the … Equator carry a positive temperature risk premium which decreases as one moves farther away from the Equator. The differences …

In this paper we show that temperature is an aggregate risk factor that adversely affects economic growth. Our argument … temperature (i.e., temperature betas) contains sharp information about the cross-country risk premium; countries closer to the … Equator carry a positive temperature risk premium which decreases as one moves farther away from the Equator. The differences …

the risk channel, (2) by providing descriptive and comparative data, (3) by tying in the catalytic role of derivatives in …

dynamics of financial integration and assesses whether advances in financial integration and globalization yield the beneficial … systemic real risk realizations; (c) financial integration fosters domestic financial development and the liquidity of equity … integration and globalization. Thus, financial integration and globalization appear to yield direct as well as indirect benefits …