Showing 1 - 10 of 408
This paper considers a simple model of credit risk and derives the limit distribution of losses under different assumptions regarding the structure of systematic and idiosyncratic risks and the nature of firm heterogeneity. The theoretical results obtained indicate that if firm-specific risk...
Persistent link: https://www.econbiz.de/10010276169
can be used to self-insure, substituting for both formal and informal insurance. We investigate this question using a … remittances, which supports the idea that remittances act as (self-) insurance. We also show that purchasing formal funeral cover … is influenced by other risk management strategies and that determinants of informal insurance differ from those of formal …
Persistent link: https://www.econbiz.de/10010270469
the European rules regarding the solvency capital requirements for insurance companies should adapt to the state of the …
Persistent link: https://www.econbiz.de/10010264597
We consider the regulation of national firms in a common market. Regulators can influence the production of national …
Persistent link: https://www.econbiz.de/10010264297
We study the nature of individual demands for environmental regulation and for trade openness in the general … respect to the stringency of regulation. Moreover, even though trade has the potential to benefit everyone, the poor may … oppose trade openness because of a concern that laxer environmental regulation will then be imposed in the interest of the …
Persistent link: https://www.econbiz.de/10010264525
This paper investigates political uncertainty as a source of regulatory risk. It shows that political parties have incentives to reduce regulatory risk actively: Mutually beneficial pre-electoral agreements that reduce regulatory risk always exist. Agreements that fully eliminate it exist when...
Persistent link: https://www.econbiz.de/10010266082
This paper analyzes the influence of the shadow economy on corruption and vice versa. We hypothesize that corruption and shadow economy are substitutes in high income countries while they are complements in low income countries. The hypotheses are tested for a cross-section of 120 countries and...
Persistent link: https://www.econbiz.de/10010276563
The analysis of economic loss attributed to the shadow economy has attracted much attention in recent years by both academics and policy makers. Often, multiple indicators multiple causes (MIMIC) models are applied to time series data estimating the size and development of the shadow economy for...
Persistent link: https://www.econbiz.de/10010276604
This paper studies the evolution of hurricane insurance in Florida over the last decades. Hurricanes (and other natural … insurance cover from the private market and/or can do so only at premiums that substantially exceed their expected claims costs … levels with the creation of Citizens Property Insurance Corporation (an insurer of last resort) and the Florida Hurricane …
Persistent link: https://www.econbiz.de/10010276899
. Second, a TV channel might find it optimal to commit to not raising advertising revenue. Third, regulation of the advertising …
Persistent link: https://www.econbiz.de/10010283590