the risk channel, (2) by providing descriptive and comparative data, (3) by tying in the catalytic role of derivatives in …

In this paper we show that temperature is an aggregate risk factor that adversely affects economic growth. Our argument … temperature (i.e., temperature betas) contains sharp information about the cross-country risk premium; countries closer to the … Equator carry a positive temperature risk premium which decreases as one moves farther away from the Equator. The differences …

financial crises on a continuous scale. Several index designs from the financial stress and systemic risk literature can be …-correlations as systemic risk weights, computationally similar to how portfolio risk is computed from the risk characteristics of … individual assets. A boot-strap algorithm provides test statistics. Single-equation and system quantile growth-at-risk …