We estimate firm–level idiosyncratic risk in the U.S. manufacturing sector. Our proxy for risk is the volatility of the … systematically associated with growth itself. We find that idiosyncratic risk accounts for about 90% of the overall uncertainty faced … by firms. The extent of cross–sectoral variation in idiosyncratic risk is remarkable. Firms in the most volatile sector …

regularities by developing a new firmbased trade model wherein managers are risk averse. Higher volatility induces the reallocation …

up an analytic model to show that the day-ahead optimal bidding under uncertain renewable production is below the … expected production and thus price increasing. In a second step, the price increasing effect on forward premiums by specific … weather types and their renewable production uncertainty is proved via empirical methods. Weather types are identified in …

This paper proposes a risk measure, based on first-passage probability, which reflects intra-horizon risk in jump … models with finite or infinite jump activity. Our empirical investigation shows, first, that the proposed risk measure … consistently exceeds the benchmark Value-at-Risk (VaR). Second, jump risk tends to amplify intra-horizon risk. Third, we find large …

uncertainty risk measured as cross-sectional productivity dispersion into macro uncertainty (an aggregate component) and micro … et al. (2020) captures macro uncertainty risk, which helps us understand the success of the q5-model …