It has been argued that rare economic disasters can explain most asset pricing puzzles. If this is the case, perceived risk associated with a disaster in stock markets should be revealed in household portfolios. That is, the framework that solves these pricing puzzles should also generate...

Der Autor war mit seinem Team u.a. aktiv an der Bekämpfung der letzten Ebola-Epidemie in Afrika beteiligt. In seinem Buch geht es am Rand auch um Beispiele von Pandemien oder Krankheiten wie der Spanischen Grippe, Zika oder Cholera, doch hauptsächlich wird die These erläutert, welche...

Since the onset of the financial crisis in 2007, more than 370 of the almost 8000 US banks insured by the Federal Deposit Insurance Corporation have failed. By comparison, between 2000 and 2004 there were around 30 failures and no failures occurred between 2005 and the beginning of 2007.We focus...