smaller expected net present value and in larger risk indicators for the net present value - than the normal model for … that the expected net present value is higher but that the risk indicators built on the net present value remain higher in …

This paper studies empirically the relationship between trade policy and individual income risk faced by workers. The … analysis proceeds in three steps. First, longitudinal data on workers are used to estimate time-varying individual income risk … parameters in various manufacturing sectors. The estimated income risk parameters and data on trade barriers are then used to …

This paper studies the dynamics of international consumption risk sharing among the G7 countries. Based on the dynamic … conditional correlation model due to Engle (2002), we construct a time-varying, consumption-based measure of risk sharing. We find … evolution of risk sharing is rather heterogeneous across countries. …

It has long been recognized that there is considerable heterogeneity in individual risk taking behavior but little is … known about the distribution of risk taking types. We present a parsimonious characterization of risk taking behavior by …

than it has been usually considered in the literature. We study "fundamental" risk factors, which represent multivariate … risk aversion of the consumer volatility matrix of the technological activity returns and argue that they can be defined as …

trend in yield differentials, which is correlated with the measure of tghe international risk factor. In contrast, liquidity … increase in both liquidity and risk, with an interaction term whosemagnitude and sign depends on the size of the liquidity … risk factor is consistently priced, while liquidity differentials are priced only for a subset of countries and their …

other portfolios. We find that CoCo coupon rates are sensitive to risk variables at the instrument-, bank-, country- and … findings suggest that there is risk-shifting incentive induced by CoCo investors as well as a selection process into di erent …