SHARE is an international survey designed to answer the societal challenges that face us due to rapid population ageing. How do Europeans age? Under which circumstances do older people and their families live, how healthy and active are they, and how did the crisis affect them? The authors of...

The current subprime crisis has prompted us to look again into the nature of risk at the tail of the distribution. In particular, we investigate the risk contribution of an asset, which has infrequent but huge losses, to a portfolio using two risk measures, namely Value-at-Risk (VaR) and...