's vulnerability to periods of heightened risk and uncertainty. This paper develops a framework to evaluate such vulnerabilities. It … and explore how they are affected by domestic and global risk. We apply this framework to ten OECD economies, showing the … Kingdom, show that a substantial degree of international risk sharing can occur through current accounts and international …

shock is sluggish and peaks with delay; (ii) permanent shocks generate positive rather than negative savings on impact; and …

Ambitious climate policy, coupled with financial frictions, has the potential to create macrofinancial stability risk …. Such stability risk may expand beyond the economy implementing climate policy, potentially catching other countries off … policies and to guide the implementation of macroprudential policies at the global scale aimed at minimizing transition risk …

absence of consumption home bias we find that non-unitary elasticity, imperfect risk-sharing, and non-cooperative monetary …

The impact of an unanticipated monetary shock in a small open economy with dollarization, factor price rigidities, and …