This study examines the systemic operational risk in Morocco's banking sector using a Panel VAR model based on data … of operational, credit, and liquidity risks. The Impulse Response Functions (IRF) show that operational risk shocks … that GDP significantly explains the variance in operational risk. To strengthen the analysis, a dynamic panel GMM model is …

As life expectancy increases, pension plans face growing longevity risk. Standardized longevity-linked securities such … as survivor contracts allow pension plans to transfer this risk to capital markets. However, more consensus is needed on … mortality model and premium principle choice on the pricing, risk measurement, and modeling of survivor contracts. We present a …

This paper investigates tail-risk transmission and asymmetric dependence in commodity markets using an asymmetric fuzzy … energy sector. Adding the SKEW index as a market-implied tail-risk proxy has negligible effects on dependence and spillovers …, revealing that equity-market tail-risk sentiment does not influence commodity markets. Systemic risk remains localized within …

In deregulated electricity markets, Generation Companies (GENCOs) are exposed to substantial financial risk due to … profit, fail to adequately capture downside risk under market uncertainty. This study proposes an integrated risk …-aware framework for generation asset valuation by embedding Value-at-Risk (VaR) into a Price-Based Unit Commitment (PBUC) model. VaR …