We investigate whether the relationship between competition and risk varies across different types of Japanese banks over the period 2000-2009. The results of our empirical investigation show that risk varies across bank types. Specifically, nationwide (City and Trust) banks are riskier on...

Implied volatility index is a popular proxy for market fear. This paper uses the oil implied volatility index (OVX) to investigate the impact of different uncertainty measures on oil market fear. Our uncertainty measures consider multiple perspectives, specifically including climate policy...

The most recent financial crisis highlights the importance of event risks and the ensuing market illiquidity and worsening investment opportunity set for optimal portfolio selection. However, the existing portfolio selection literature does not consider the joint impact of these risks. In this...

Using Growth at Risk as a measure of downside growth risk, the authors find that higher perceived levels of downside growth risk seem to be negatively associated with long-term growth. Output collapses and crises are a fact of life. Severe economic downturns occur periodically and have grave...