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Climate change affects the mean and variability of weather conditions and the frequency of extreme events, which to a great extent determines the variability of production and yields. This paper reviews the scientific literature on the impacts of climate change on yield variance and investigates...
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's (1921) distinction between uncertainty and risk. Along with the risky profit-maximizing scenario, identifying a second, off …
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We define tail interdependence as a situation where extreme outcomes for some variables are informative about such outcomes for other variables. We extend the concept of multiinformation to quantify tail interdependence, decompose it into systemic and residual interdependence and measure the...
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The paper reports the outcome of the stress-testing of liquidity risk in the TARGET2 payment system, with the study …
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