The contribution of this paper is to show how the balance of risk for various macro variables can be linked to … a subjective assessment of the balance of risk, i.e. whether the distributions are symmetric or not. The baseline case …

growth literature. We obtain estimates of residual risk (growth uncertainty) at various horizons from regressions of country …-specific deviations from world growth on a wide set of variables in the information set. Since this residual risk can be entirely hedged …

representatives of each asset class. Results: The crisis had the highest impact on the risk of crude oil, renewable energy sources …Background: In making investment decisions, asset risk and return are two crucial criteria on which investors base … their decision. Objectives: This paper provides risk and return analysis and compares different traditional and alternative …

systemic financial crisis. During the Great Recession, failing market risk-sharing was replaced by the ECB through the cross … reliance of European investors on banks and build up a market-based risk-sharing channel between member states. Our empirical … provide evidence that (i) financial flows are generally pro-cyclical; (ii) market-based risk-sharing mechanisms tend to break …