voting decisions. Thus, risk neutral individuals exhibit what we call political risk aversion. Yet individual uncertainty is …

explores how much of these large movements reflected shifts in (i) global risk aversion (ii) country-specific risks, directly … in the crisis, the surge in global risk aversion was a significant factor influencing sovereign spreads, while recently … Spain, as the emphasis has shifted towards short-term refinancing risk and long-term fiscal sustainability. The paper …

. The model predicts that as competition increases, both loans and assets increase; however, the effect on the loans …-to-assets ratio is ambiguous. Similarly, as competition increases, the probability of bank failure can either increase or decrease. We …'' probability of failure is negatively and significantly related to measures of competition, and that the loan-to-asset ratio is …

numerical method is flexible enough to solve a model with several state variables, to discuss the effect of risk aversion, and … volatile. If the oil producer is risk averse, production is more stable, but spare capacity is much higher than what is …

administration relative to free trade under imperfect competition. It shows that a country importing a good from foreign duopolists …