Tolerance – respecting those who are different – is arguably of particular importance in an era of globalization, where … different from oneself. We investigate whether globalization induces parents to want to instill tolerance in their children, the … willingness-to-teach-kids-tolerance measure, that globalization enhances the willingness to transmit such social values. More …

Fears of job losses and of increasing inequality loom large in current debates on how globalization is affecting our … economies. By fundamentally changing the organization of production and work, globalization creates complex and changing … patterns of winners and losers. Globalization thus creates powerful challenges to welfare states and may increase the demand …

addressing these contractions. The key mechanism stems from heterogeneous risk tolerance: as a recessionary shock hits the …In this paper we: (i) provide a model of endogenous risk intolerance and serve aggregate demand contractions following … a large (non-financial) shock; and (ii) demonstrate the effectiveness of Large Scale Asset Purchases (LSAPs) in …

EMEs - to satisfy their Value-at-Risk constraints - in response to uncertainty shocks, borrowing costs increase and …

most impacted by a shock to economic uncertainty. Statistically significant declines are observed for investment, output …

We identify a 'risk news' shock in a vector autoregression (VAR), modifying Barsky and Sims's procedure, while … news shock is estimated to account for around 2%-12% of business cycle fluctuations depending on which risk proxy we use … incorporating sign restrictions to simultaneously identify monetary policy, technology and demand shocks. The VAR-identifed risk …