laboratory experiment that incorporates more aspects of real world complexity and more different sorts of official and private … Theory. SKAT allows for risk effects from stages omitted in normal models, including those from (a) difficulties of agents in …

because the former allows risk sharing across countries while the latter does not. The analysis is performed in a two …-country overlapping generations model, where markets are incomplete under either exchange regime. In this second best world, it is … demonstrated that the ability to share risk across countries in the fixed rate regime does not necessarily lead to higher welfare …

because the former allows risk sharing across countries while the latter does not. The analysis is performed in a two …-country overlapping generations model, where markets are incomplete under either exchange regime. In this second best world, it is … demonstrated that the ability to share risk across countries in the fixed rate regime does not necessarily lead to higher welfare …

This study examines the effects of geopolitical risk and global uncertainty on energy prices, conditioned by different …

We develop a novel, risk-based theory of the effects of currency manipulation. In our model, the choice of exchange …- national investors is high lower the required rate of return on the country's currency and increase the world-market value of … relative to a larger economy can increase domestic capital accumulation, domestic wages, and even its share in world wealth. In …

We propose a novel, risk-based transmission mechanism for the effects of currency manipulation: policies that … systematically induce a country's currency to appreciate in bad times lower its risk premium in international markets and, as a … result, lower the country's risk-free interest rate and increase domestic capital accumulation and wages. Currency …