demonstrated in a costly state verification model with a risk averse entrepreneur. The prospect of disputes encourages incentive …

We develop a new approach to the decomposition of income risk within a non- stationary model of intertemporal choice …. The approach allows for changes in in- come risk over the life cycle and across the business cycle, allowing for mixtures … environment is used to show the robustness of the method for decomposing income risk. The approach is used to investigate the …

Purpose: The purpose of this paper is to analyze the efficiency loss due to incomplete financial markets when risk is …

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 …

Systematic risk cannot be controlled by business managers and cannot be eliminated by portfolio diversification ….Factors related to the systematic riskmay be interest rate, inflation, exchange rate, market risk, and politics.Systematic risk may … also mean the magnitude of the correlation between stock price and market return. The measure of this risk is the beta …

/18/2020. Results showed that stock markets were highly connected during the entire period, but the dynamic spillovers reached … unprecedented heights during the COVID-19 pandemic in the first quarter of 2020. Moreover, we found that the European stock markets … (except Italy) transmitted more spillovers to all other stock markets than they received, primarily during the COVID-19 …

The CEE stock markets are more and more integrated in the European financial markets. The growth of the integration of … financial markets favours the volatility and return spillover between them. The current study analyses the volatility spillover … among the stock markets in the countries from Central and East Europe (CEE) and Germany and France with the aim to identify …

In this paper, we investigate how climate risk impacts the sovereign risk, the stock market evolution, and the degree … as a percentage of GDP. Moreover, the climate risk leads to an increase in sovereign risk only across inferior quantiles … competitiveness of a country is influenced to a small extent by the level of climate risk. This could be a consequence of concerns …