( a) a financial crisis is unlikely to happen in the near future and ( b) the ultimate risk lies with China's economic …Motivated by growing concerns about the risks and instability of China's financial system, this article reviews several … commonly perceived financial risks and discusses their roots in China's politico-economic institutions. We emphasize the need …

: (1) financial crisis is unlikely to happen in the near future, and (2) the ultimate risk lies with China's economic …Motivated by growing concerns about the risks and instability of China's financial system, this article reviews several … commonly perceived financial risks and discusses their roots in China's politico-economic institutions. We emphasize the need …

: (1) financial crisis is unlikely to happen in the near future, and (2) the ultimate risk lies with China's economic …Motivated by growing concerns about the risks and instability of China's financial system, this article reviews several … commonly perceived financial risks and discusses their roots in China's politico-economic institutions. We emphasize the need …

: (1) financial crisis is unlikely to happen in the near future, and (2) the ultimate risk lies with China's economic …Motivated by growing concerns about the risks and instability of China's financial system, this article reviews several … commonly perceived financial risks and discusses their roots in China's politico-economic institutions. We emphasize the need …

We construct risk-neutral return probability distributions from S&P 500 options data over the decade 2003 to 2013 …. We evaluate a "real-minus-implied risk premium", defined as the difference between real and option-implied returns, which … reveals a doubling of the risk-aversion of investors, from 8% in the pre-crisis to 16% in the post-crisis period. Granger …