Though theory suggests financial globalization should improve international risk sharing, empirical support has been …. We then take it to data and find international risk sharing has, indeed, improved during globalization. Improved risk … limited. We develop a simple welfare-based measure that captures how far countries are from the ideal of perfect risk sharing …

This book undertakes industry analysis of the risk-return behaviour of stock returns in the US. It focuses on … transportation and a number of non-transportation companies, with particular attention paid to water transportation. The market risk … identify exposures (betas) to market, microeconomic and macroeconomic types of risk in each industry. These industries include …

impact upon international risk sharing. The empirical literature so far has only investigated on one aspect of globalization …The main research question of this empirical work is whether or not globalization, in its various forms, has had an …: economic and financial integration. By decomposing globalization in its economic, political and social aspects, and using a …

The impact of globalization of financial markets is a highly debated topic, particularly in recent months when the … issue of globalization and contagion of financial distress has become a focus of intense policy debate. The papers in this … the initial outbreak of the current global turmoil and financial crisis, they identify the relative strengths of the risk …

financial systemic risk …

In this paper, we analyse the effects of a shock to global financial uncertainty and risk aversion on real economic … the world. We then study how shocks to the factor affect economic activity in 44 advanced and emerging small open …

across countries through risk variables, spurring a literature on the "global financial cycle." This paper studies how … (conventional and unconventional) monetary policy shocks affect risk and uncertainty in three large economies: the US, euro area …, and Japan. We construct measures of financial risk factors for each country by decomposing option-implied variances of the …