Political risk, one of the most significant uncertainty shocks, affects firms' future attitudes toward risks and plays … a crucial role in their decision making. A stock price crash risk is a classical topic in financial markets; therefore …, this paper probes the relationship between firm-level political risk and stock price crash risk based on a sample of …

We explore the impact of mortgage securitization on the international diversification of macroeconomic risk. By making … risk sharing: we find that countries with the most highly developed markets for securitized mortgage debt have consumption … industrialized countries and cover the sample period 1985-2008Q1. They are robust to a range of controls for other aspects of …