sensitivities to standard risk factors over the sample period from 2007 to 2014. By contrast, comparable bonds (same currency … denomination and credit rating category) issued by foreign entities did not offer significant risk-adjusted returns and exhibited … markedly different sensitivities to Swiss and global risk factors. However, the positive risk-adjusted returns on Swiss bonds …

optimal policy design in a context with more than one externality while taking explicitly into account uncertainty surrounding …-focused. Besides uncertainty on the state of the world concerning actual marginal emission damage, we consider the technological … existing externalities and optimal instrument choice is shown to be dependent on risk aversion of society as a whole as well as …

-form expressions of welfare loss from shocks and epistemological uncertainty identify the interaction of (intertemporal) risk attitude … is comparable to numeric models used in policy advising. Uncertainty surrounding climate change remains large. The closed …, distributional moments, and the climatic shadow values. Welfare gains from reducing uncertainty about temperature feedbacks are much …

We investigate the uncertainty dynamics surrounding extreme weather events through the lens of option and stock markets … by identifying market responses to the uncertainty regarding both potential hurricane landfall and subsequent economic … 5-10 percent, reflecting impact uncertainty. Using hurricane forecasts, we show that landfall uncertainty and potential …

with this hypothesis, we show that a one-standard-deviation increase in aggregate uncertainty amplifies the predictive … ability of sentiment for market returns by two to four times relative to when uncertainty is at its mean. We find similar … sensitive to sentiment and for anomaly returns is substantially larger in times of higher uncertainty. The results hold for both …

This paper studies the impact of corporate acquisitions - both domestic and cross-border - on the uncertainty faced by …-level uncertainty is characterized by a pecking order: the announcement of a domestic takeover leads to a reduction in the uncertainty … - engender a positive response in acquirers' volatility. Our results suggest that acquisitions affect uncertainty because they …