uniform. We analyze how climate risks could be reduced via an insurance scheme at the global scale across regions and quantify … Models (IAMs), which assumes no risk sharing across region, we introduce global risk sharing via a market for state … across regions. We estimate that such risk sharing scheme of climate risks could lead to welfare gains reducing the global …

preferences. Full insurance cannot be rejected. As the risk-sharing as-if-complete-markets theory might predict, estimated risk …We show how to use panel data on household consumption to directly estimate households’ risk preferences. Specifically …, we measure heterogeneity in risk aversion among households in Thai villages using a full risk-sharing model, which we …

openness, and greater insurance coverage can help mitigate the negative impact of climate risk on corporate innovation. Further …Employing an international sample of 10,012 firms across 62 economies spanning 2005–2017, we show that climate risk is … negatively associated with corporate innovation activities. This finding is consistent with increased managerial risk aversion …