Decisions involving risk depend on two distinct aspects: (i) the risk of the gamble and (ii) the attitude towards risk of the investor. The literature captures the first aspect by risk measures and the second by risk aversion. We connect both concepts by introducing the class of risk measures...

This study investigates carbon pricing-induced credit risk, the potential negative impact of carbon pricing on firms' ability to meet their financial obligations. Applying a well-established credit assessment model to a novel data set combining financial statements and emissions data, we subject...

The use of input-output analysis for the computation of secondary effects of final demand changes is well-known. These 'final demand effects' can be calculated using technical coefficients and the inverse of the Leontief matrix. This paper offers an alternative to the use of technical...