in the context of a simple model of insurance, where there is no Arrow Debreu equilibrium to allocate risk efficiently …

In this Paper we study the impact of credit risk transfer (CRT) on the stability and the efficiency of a financial …

institution. The conglomerate’s risk-taking incentives depend upon the level of market discipline it faces, which in turn is … integrated financial conglomerates, and for financial conglomerates that are structured as holding companies. For a given risk …. However, when risk profiles are endogenously selected conglomeration may extend the reach of the deposit insurance safety net …

withdrawal of employers and external insurers as risk bearers of systematic financial and longevity risks. Partly because of … pension: the Personal Pension with Risk sharing (PPR). By unbundling and valuing the investment, (dis)saving, insurance and … risk-sharing functions of pensions, PPRs allow risk management and (dis)saving to be customized to the specific features of …

to farmer investment is uninsured risk: when provided with insurance against the primary catastrophic risk they face … basis risk associated with the index insurance, and with imperfect trust that promised payouts will be delivered. …

that, contrary to what they profess, macroeconomic and political risk is not inhibiting the investment behavior of …

This paper analyses the impact of public disclosure of banks’ risk exposure on banks’ risk taking incentives and its … their loan portfolio, public disclosure reduces the probability of banking crises. When asset risk is driven largely by … between asset risk and the deposit rate demanded by informed depositors. …

This paper studies the impact of competition on the determination of interest rates, and on banks’ risk taking … lower entry costs foster competition in deposit rates and reduce banks’ incentives to limit risk exposure. While higher … insurance coverage amplifies this effect, two alternative arrangements (risk based contributions to the deposit insurance fund …

The paper studies risk mitigation associated with capital regulation, in a context where banks may choose tail risk … assets. We show that this undermines the traditional result that higher capital reduces excess risk-taking driven by limited … liability. Moreover, higher capital may have an unintended e¤ect of enabling banks to take more tail risk without the fear of …