This paper studies the effects of contagion on bank lending spreads and output fluctuations in Argentina. The first … part presents the analytical framework, which analyzes the determination of bank lending spreads in the presence of … relates the ex ante bank lending spread, the cyclical component of output, the real bank lending rate, and the external …

novel insights on the effects of unconventional monetary policies in developed economies. We argue that bank lending might … banks to pursue safer investments in low-risk government securities …

markets, such as natural disasters, terrorist attacks, and financial crises—as a problem of risk management. This is … institutional theory that points to stakeholder and institutional dynamics affecting economic incentives to invest in prevention and …

a simple extension of the long-run risk model …

between consumption losses in a disaster and the risk premium, a small amount of risk sharing can significantly attenuate the … effect that disaster risk has on the equity premium. We characterize the sensitivity of risk premium to wealth distribution … lead to significant variation in disaster risk premium. It also highlights the conditions under which disaster risk premium …

the firm's exposure to IST shocks and risk premia. Our calibrated model replicates: i) the predictability of returns by … returns by aggregate investment and valuation ratios; and v) a downward sloping term structure of risk premia for dividend …

shocks to aggregate uncertainty, I introduce a small, time-varying risk of economic disaster in a standard real business … risk of disaster does not affect the path of macroeconomic aggregates - a "separation theorem" between macroeconomic … variation in risk premia over time, are observationally equivalent to preference shocks. An increase in the perceived …

We present a novel approach to depicting asset pricing dynamics by characterizing shock exposures and prices for … alternative investment horizons. We quantify the shock exposures in terms of elasticities that measure the impact of a current … shock on future cash-flow growth. The elasticities are designed to accommodate nonlinearities in the stochastic evolution …

We review and extend the economic analysis of risk and uncertainty as it relates to behavior mitigating health shocks … for risk-sharing in health by pooling the health care spending risk. In a sense, medical innovation involves a current …

trade model with income-risk neutrality there tends to be an uncertainty- increasing motive for a TA. With income-risk … degree of risk aversion, an uncertainty- reducing motive for a TA is more likely to be present when the economy is more open …