Financial risk management is difficult at the best of times, but especially so in the presence of economic uncertainty … and financial crises. The purpose of this special issue on "Advances in Financial Risk Management and Economic Policy … methods have contributed significantly to the analysis of financial risk management when there is economic uncertainty …

view of risk of the various market participants. A possible range of types of approach to risk is posited that is tied to … some popular theoretical approaches to risk. The impact of these views of risk on the types of transactions chosen is … extrapolated from groupings of risk views along that range. Finally, the interaction in the market of those varying points of view …

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 …

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 … hinges on firm-specific expectations of future loss recovery …

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 … hinges on firm-specific expectations of future loss recovery …

theory based models provide a reasonable degree of safety while widespread VaR models do not provide adequate risk coverage …The purpose of this paper is to investigate the performance of VaR models at measuring risk for WTI oil one …-month futures returns. Risk models, ranging from industry standards such as RiskMetrics and historical simulation to conditional …

This paper examines the effect of labor unemployment risk on firm risk. Using unemployment insurance benefits as a … proxy for unemployment risk, we find an economically significant positive relation between unemployment risk and firm risk …

This paper analyzes the impact of countries' tax attractiveness on the allocation of risk within multinational groups … globally. We show that tax symmetry positively influences the relative amount of risk allocated to subsidiaries. Both time and … amount limitations of loss offset rules matter. Higher statutory corporate tax rates in the country of the subsidiary …

results. To shed a light on these questions, we analyse a sample of 69 transition risk metrics delivered by 9 different … climate transition risk providers and covering the 1,500 firms of the MSCI World index. Our findings show that convergence … between metrics is significantly higher for the firms most exposed to transition risk. We also show that metrics with similar …