existence of risk-shifting behaviour by reserve managers related to their year-to-date ranking: interim losers increase relative … risk in the second half of the year, in the same way as mutual fund managers. In the dollar case, risk-shifting is … by portfolio turnover. We also find that reserve managers who ranked low in the previous year tend to reduce risk …

existence of risk-shifting behaviour by reserve managers related to their year-to-date ranking: interim losers increase relative … risk in the second half of the year, in the same way as mutual fund managers. In the dollar case, risk-shifting is … by portfolio turnover. We also find that reserve managers who ranked low in the previous year tend to reduce risk …

Corporate bond returns in the major developed economies increase with risk, as measured by maturity and ratings. From a …

finds that common shocks – key crisis events as well as changes to global liquidity and risk – have exerted a large effect …, country risk and the strength of domestic macroeconomic fundamentals. Comparing and quantifying these effects shows that …

This paper investigates the contribution of private and public channels for consumption risk sharing in the EMU over … estimating how risk sharing has evolved since the start of the EMU, and in particular during the recent crisis. Our results …

particular, we investigate the extent to which a spillover of risk among hedge funds through redemptions and failures of other … funds has affected the probability of fund failure. We find that risk spillover is significantly related to the failure … within the same investment style are adversely affected through both channels of risk spillover. In addition, we find that …