The focus of the new issue of the Public Finance Quarterly of uncertainty, risk, and volatility is dealt with in four studies, as well as three interesting reviews and two disputes. From the studies, we can answer such exciting questions as to how effective domestic bankruptcy law is, how the problems of the Hungarian pension system could be solved, what the current status of the debate market vs. state involvement currently looks like, or how financial control can add value to the financial management of local governments.