Using firm and industry data, we establish two facts: (i) Uncertainty about demand conditions not only reduces export … regularities by developing a new firmbased trade model wherein managers are risk averse. Higher volatility induces the reallocation … of export shares from the most to the least productive incumbents. Greater skewness of the demand distribution and …

measures of productivity, however, will associate differences in demand volatility to differences in productivity when … adjusting factors of production is costly. I document this effect by comparing the influence of demand volatility on capacity … utilization in a high (hotels) and low (airlines) adjustment cost industry. Differences in annual demand volatility explain a …

observable networks. We show how these methods could be useful in (i) isolating risk channels, risk spreaders and risk receivers …We propose a spatial approach for modeling risk spillovers using financial time-varying proximity matrices based on …, (ii) investigating the role of portfolio composition in risk transfer, and (iii) computing target exposure structures able …