growth and return series. Whichever specification is used, the estimated preference parameters are of an economically …

The paper analyses the empirical relationship between bank risk and sovereign credit risk in the euro area. Using … risk and bank risk, with the former being overall more important in explaining bank risk, than vice versa. The paper … bailout policies have reduced solvency risk in the banking sector mostly at the expense of raising the credit risk of …

correlation of consumption and the equilibrium conditions for market return and risk-free rate, as well as the model …The long-run consumption risk (LRR) model is a convincing approach towards resolving prominent asset pricing puzzles …-implied predictability of the risk-free rate. We match analytical moments when possible and simulated moments when necessary and determine …

-studied phenomenon. However, people might already adjust their labour supply when their partner is at risk of losing his/her job. Using … household member is at risk of losing his/her job, the partner is 30% more likely to enter the labour market (extensive margin …, while the high-educated wait for this risk to materialise. …