Measuring left-tail risk of fish species

The main objective of this paper is to perform a risk analysis for the key commercial fish species in FAO area 27 by means bundle financial left-tail indicators, including Value-at-Risk (VaR), Expected Shortfall (ES) and Expectiles (EX), panel data catches (Q it ) measure (LTR i ); an empirical probabilistic worst-case reduction resulting from huge negative shocks. LTR can be useful, not only classify according their level, but also, using appropriate weights, infer any other aggregation level such as fleet, fishing community or country. In paper, we are employing our estimations calculate EU countries j ), country proxy variable inherent activity itself. • EBFM requires reliable synthetic measures. Left-tail indicators best loss fisheries. worst case, North-East Atlantic would reduced 65%. Species' easily inferable area. exhibit heterogeneous patterns, riskiest Denmark least risky Finland.