analyze the impact of the agents' risk aversion on the implied volatility of simultaneously-traded European-style options …

We develop a new approach to the decomposition of income risk within a nonstationary model of intertemporal choice. The … approach allows for changes in income risk over the life-cycle and with the business cycle. It requires only repeated cross … decomposing income risk. The approach is used to investigate the changes in income risk in Britain across the inequality growth …

In this paper, we empirically assess the causal relationship between trade and individual income risk and study the … from 1976 to 2012. Our estimates suggest substantial heterogeneity in labor income risk across workers in different entry … exports (per worker) are strongly and causally related to income risk: Imports increase risk and exports decrease risk, and …

We develop a new approach to the decomposition of income risk within a non- stationary model of intertemporal choice …. The approach allows for changes in in- come risk over the life cycle and across the business cycle, allowing for mixtures … environment is used to show the robustness of the method for decomposing income risk. The approach is used to investigate the …

This paper studies empirically the relationship between trade policy and individual income risk faced by workers. The … analysis proceeds in three steps. First, longitudinal data on workers are used to estimate time-varying individual income risk … parameters in various manufacturing sectors. The estimated income risk parameters and data on trade barriers are then used to …

Using detailed micro-data, this paper documents that households with lower income risk (and higher income levels … designed to account for the empirically observed negative correlation between income levels and income risk. This interaction … generates saving dynamics such that the stationary distribution of wealth among households facing different risk levels is not …

incomplete markets model and find that advance information reduces households' income forecast errors by 15%. Our estimation …

results. To shed a light on these questions, we analyse a sample of 69 transition risk metrics delivered by 9 different … climate transition risk providers and covering the 1,500 firms of the MSCI World index. Our findings show that convergence … between metrics is significantly higher for the firms most exposed to transition risk. We also show that metrics with similar …