This paper examines the implications for risk taking in an emerging stock market, viz., Pakistan Stock Exchange (PSX … assumptions and can estimate the elasticities across the risk spectrum. The empirical findings suggest that the elasticities, viz …., betas, are significant across quantiles. It implies that the risk-return relationship behaves differently when the …

Households face earnings risk which is non-normal and varies by age and over the income distribution. We show that … assets. Because households are subject to more background risk than previously considered, the estimated model implies a … substantially lower coefficient of risk aversion. We also find renewed support for rule-of-thumb investment strategies under the …

We develop a financial-economic model for carbon pricing with an explicit representation of decision making under risk … specifications. We show that risk associated with high damages in the long term leads to stringent mitigation of carbon dioxide … emissions in the near term. Our results provide insight into how a systematic incorporation of climate-related risk influences …

We develop a financial-economic model for carbon pricing with an explicit representation of decision making under risk … specifications. We show that risk associated with high damages in the long term leads to stringent mitigation of carbon dioxide … emissions in the near term. Our results provide insight into how a systematic incorporation of climate-related risk influences …

We test the effects of uncertainty on market liquidity using Hurricane Sandy as a natural experiment. Given the …. We nd relatively less trading and wider bid-ask spreads in affected REITs. The results confirm theory on the detrimental …

We model a safe asset market with investors valuing safety, investors valuing liquidity, and constrained dealers. While … safety investors and liquidity investors can interact symbiotically with offsetting trades in times of stress, we show that … liquidity investors' strategic interaction harbors the potential for selffulfilling fragility. Surprisingly, standard flight to …

. Instead, our results are in line with the hypothesis that a lower trading volume reduces liquidity, and thereby market quality …