This paper introduces a new tail-risk measure based on the risk-neutral excess expected shortfall of a cross-section of stock returns. We propose a novel way to risk neutralize the returns without relying on option price ...

Purpose: The purpose of this paper is to decompose the effects of democracy and risk of expropriation on economic volatility. Design/methodology/approach: The authors follow Acemouglu et al. and use settler mortality in ...

The discussions focus on different aspects of the paper and are quite complementary. Dobrev and Schaumburg look closely at our implementation choices and analyse the sensitivity of the measure to these choices. Camponovo, ...

Strengthening the planning of hydrological resources to optimize the use of water in agriculture is a key adaptation measure of the Chilean agricultural sector to cope with future climate change. To address this challenge, ...

Strengthening the planning of hydrological resources to optimize the use of water in agriculture is a key adaptation measure of the Chilean agricultural sector to cope with future climate change. To address this challenge, ...

This paper contributes to shed light on the economic impacts of changes in water availability due to climate change on small-scale agriculture. We provide an hydro-economic modelling framework that captures the socio-economic ...

This paper contributes to shed light on the economic impacts of changes in water availability due to climate change on small-scale agriculture. We provide an hydro-economic modelling framework that captures the socio-economic ...

This work advances the understanding of compensation demanded for environmental impacts on atmosphere, lakes and rivers, soil, and ocean generated by mining, urban, fishing and agriculture activities. Our aims are to ...