-probability extreme events on environmental policy in a continuous-time real options model with "tail risk". In a nutshell, our results … indicate the importance of tail risk and call for foresighted pre-emptive climate policies. -- climate policy ; extreme events …

We develop a simple model of managing a system subject to pollution damage under risk of an abrupt and random jump in …

or 1.5oC. The safe carbon budget is lower if uncertainty about the transient climate response is high and risk tolerance …

We examine the relationship between private bank deposits and macro/fiscal risk in the euro area. We test three … hypotheses: First, private bank deposits relative to Germany are determined by macro/fiscal risk factors. Second, this … relationship is time-varying. Third, time-variation is driven by the level of macro/fiscal risk. Our findings validate all three …

persistence has declined after Brexit. These findings highlight the importance of completing swiftly the negotiations with the EU …

We assess the impact of geopolitical risk and world uncertainty on the sovereign debt risk of 26 European Economies … European country's sovereign risk as measured by 5- and 10-year Credit Default Swaps (CDS) and bond returns. Moreover, this …