intergenerational distribution of income risk. If the pension benefit is a fixed proportion of previous income, a pay-as-you-go program … increases the income risk of all generations. On the other hand, a pay-as-you-go program characterized by a fixed inome tax rate … and uncertain pension benefits provides intergenerational risk sharing. …

competition, and we show that risk aversion is not a necessary condition for firms to respond negatively to trade cost uncertainty. …

growth studies, but not financial or risk management aspects. In this sense, it is interesting to analyze the relationship … between economic growth and value at risk and the feed-back process. The goal of the paper is to analyze the relationship … between economic growth and risk management and the feed-back process. We will consider economic variables, including economic …