degree of pessimism of the representative agent is the mean of the individual ones weighted by their index of absolute risk …

Jesús Fernández-Villaverde, Pablo A. Guerrón-Quintana, Juan F. Rubio-Ramírez and Martín Uribe (2011) find that risk … rate risk shock increases by 63 percent and the contribution of interest rate risk shocks to business cycle volatility more … than doubles. Hence, risk matters more in the recalibrated model. However, the recalibrated model does worse in capturing …

We measure the economic risk of epidemics at a geo-spatially detailed resolution. In addition to data about the …’s resilience (its ability of the recover rapidly from the shock). We find that the economic risk of epidemics is particularly high …

such insurance lines, securitizationis rapidly emerging as an alternative form of risk transfer. The ultimatesuccess of … separate components, one of which is atype of systemic risk that is highly correlated amongst insureds. Such acorrelated …, which illustrate ourmethodology in several types of insurance markets subject to systemic risk. …

We examine how the tail risk of currency returns over the past 20 years were impacted by central bank (monetary and … effects last for up to 1 month, and are proportionally higher for joint QE actions. This cross-border source of tail risk is …

Consider a simple two-state risk with equal probabilities for the two states. In particular, assume that the random … this way, we can extend and generalize existing results about risk attitudes. This lottery preference includes behavior … exhibiting higher order risk effects, such as precautionary effects and tempering effects. -- Downside risk ; precautionary …