This paper explores the effect of natural resource dependence on market concentration of imports. Using a new panel database for importing firms in developing and emerging market economies, the paper shows that higher natural resource dependence is associated with larger market concentration of...

This paper studies the so-called Take the Best (TTB) and the other two related heuristics which are Take the last (TTL) and the Minimalist heuristics to collect more evidence on these heuristics and then make comparison on performance of these heuristics’ potential users who have different...

Excessive risk-taking in the banking industry has led to the default of firms and to increased systemic risks as demonstrated during the previous financial crisis. The causes of this excessive risk taking are numerous and complex. However, it is now consensus that inappropriate remuneration...

In the model world with overlapping generations and uncertain life expectancy individuals can live for a maximum of two periods. Only one part of each generation survives the work-ing phase and lives to enjoy retirement. The other part dies after the first half of life. Within this framework it...

The paper examines whether there is an economic justification for a macroprudential approach to insurance regulation based on the normative theory of regulation. First, the paper elaborates some basic foundations, such as the characterisation of a macroprudential approach to financial regulation...

The paper examines whether there is an economic justification for a macroprudential approach to insurance regulation based on the normative theory of regulation. First, the paper elaborates some basic foundations, such as the characterisation of a macroprudential approach to financial regulation...

Mit dem angedachten Solvabilitätssystem Solvency II werden Versicherer das erforderliche Solvenzkapital anhand ihrer tatsächlichen Risikosituation ermitteln müssen. Um diese zu bestimmen und zu quantifizieren, ist die Berücksichtigung der Abhängigkeiten zwischen den Risiken verschiedener...