Models (IAMs), which assumes no risk sharing across region, we introduce global risk sharing via a market for state … across regions. We estimate that such risk sharing scheme of climate risks could lead to welfare gains reducing the global … for considering risk sharing in IAMs, but also for potentially welfare increasing negotiations about sharing risks of …

, driven by the rate of risk aversion. However, for a reasonable choice of the rate of risk aversion, rich countries are shown … assumptions about the rate of risk and inequity aversion. Estimates of the consumption rate of inequity aversion for recent data …

empirically show two main findings: first, risk-taking is positively related to the length of tax loss periods because the loss … rules shift some risk to the government; and second, the tax rate has a positive effect on risk-taking for firms that expect …

empirically show two main findings: first, risk-taking is positively related to the length of tax loss periods because the loss … rules shift some risk to the government; and second, the tax rate has a positive effect on risk-taking for firms that expect …

This article estimates the coefficient of relative risk aversion for 75 countries using data on self-reports of … personal well-being from the 2006 Gallup World Poll. The analysis suggests that the coefficient of relative risk aversion …

has three components: the pure rate of time preference, a measure of relative risk aversion, and the rate of growth of per … respect to consumption is particularly important because it assumes three roles: consumption smoothing over time, risk … rates of risk and inequity version can be expected to play significant roles. The consumption growth rate plays four roles …

explores how much of these large movements reflected shifts in (i) global risk aversion (ii) country-specific risks, directly … in the crisis, the surge in global risk aversion was a significant factor influencing sovereign spreads, while recently … Spain, as the emphasis has shifted towards short-term refinancing risk and long-term fiscal sustainability. The paper …