idiosyncratic entrepreneurial risk-- a risk that introduces, not only a precautionary motive for saving, but also a wedge between …

superior. The intuition is simple: if underlying technologies are not convex, then risk-sharing can lower expected utility. The … simplistic models arguing for financial integration typically employed in economics assume convexity; but the world is rife with … likelihood of a bankruptcy cascade, "contagion," and systemic risk …

account for the risk premia and asset price fluctuations. In addition, the model can empirically account for the cross …

This paper measures the effects of the risk of war on nine U.S. financial variables using a heteroskedasticity …-based estimation technique. The results indicate that increases in the risk of war cause declines in Treasury yields and equity prices …, a widening of lower-grade corporate spreads, a fall in the dollar, and a rise in oil prices. This war risk factor …

policy uncertainty is found to increase demand and favorite investments into risky assets in order to ameliorate the risk …