for by the real common factor, which is proportional to world growth in our empirical model and linked to the risk …

for by the real common factor, which is proportional to world growth in our empirical model and linked to the risk …

for by the real common factor, which is proportional to world growth in our empirical model and linked to the risk …

factor, which is extracted from world growth in our empirical model and linked to the risk-free rate in the theoretical model … and in the data. Second, the share of volatility forecast error variance explained by the real common shock and by country …

opportunities quantified by very large exposures to domestic financial and real shocks, dwarfing the contribution of any other shock …

opportunities quantified by very large exposures to domestic financial and real shocks, dwarfing the contribution of any other shock …