This paper explores the aggregate and systematic income risk of formal workers in Argentina, using an extensive … economic activity impacts on workers’ remunerations. The main result is that income risk decreases along the conditional and … sector face a higher income risk, while workers’ remunerations of large companies are less sensitive to business cycle …

The long-run risk model introduced by R.Bansal and A.Yaron (2004) assumes the existence of a small predictable … persistence levels of shocks to consumption growth. In this paper the original long run risk model is extended introducing a novel …. Correspondingly the relations between equity return variations, cash flow risk and persistent fluctuations in the consumption mean are …

To evaluate the aggregate risk in a financial or insurance portfolio, a risk analyst has to calculate the distribution … function of a sum of random variables. As the individual risk factors are often positively dependent, the classical convolution … aggregate risk. In order to choose between both approximations, or perhaps use a weighted average, we should have an indication …

decisions, into a stochastic model. This approach, which builds on scenario aggregation, a numerical method developed to solve …

In this paper we study the importance of marriage for interstate risk sharing. We find that US states in which married … just improve the allocation of risk at the individual level, but also have implications for the allocation of risk at the … more aggregated state-level. Quantitatively, the impact of marriage on interstate risk sharing varies over divorce regimes …