implies that tax reforms are risky, and hence the risk preferences of policymakers also have important tax policy implications …

banks, insurers and pension funds. However, few investment fund climate-related financial risk assessments have been … apparent diversification hides a concentration risk: brown funds are more closely connected with each other (have more similar … climate risk scenario exercise confirms this: within total system-wide losses of EUR 152 billion to EUR 443 billion, most …

In this paper we use administrative data from the social security to study income dynamics and income risk inequality … in Spain between 2005 and 2018. We construct individual measures of income risk as functions of past employment history …, income, and demographics. Focusing on males, we document that income risk is highly unequal in Spain: more than half of the …

-averse entrepreneurs discount using a 'hurdle rate' that exceeds the risk-free interest rate. The gap between the two rates increases with …

that consumption commitments can cause risk-neutral consumers to care about risk, creating incentives to both insure risks … and bunch uninsured risks together. For example, workers may prefer to avoid wage risk while bearing an unemployment risk …

. By incorporating climate risk into asset prices, markets can discourage excessive development in hazardous areas. However … information about flood risk on residential property values in the United States. Using multiple empirical approaches and two … information about flood risk in aggregate. However, the price penalty for flood risk is larger for commercial buyers and in states …