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Understanding the time to court case resolution : a competing risks analysis using Belgian data

Bielen, Samantha; Grajzl, Peter; Marneffe, Wim - 2017

Court delays are a frequent concern, yet what explains court case duration remains incompletely understood. We study the time to court case resolution by drawing on a detailed case-level dataset of civil suits filed at a major Belgian court. We utilize the competing risks regression framework to...

Persistent link: https://www.econbiz.de/10011646804

Yield curve and financial uncertainty : evidence based on US data

Castelnuovo, Efrem - 2019

How do short and long term interest rates respond to a jump in financial uncertainty? We address this question by conducting a local projections analysis with US monthly data, period: 1962-2018. The state-of-the-art financial uncertainty measure proposed by Ludvigson, Ma, and Ng (2019) is found...

Persistent link: https://www.econbiz.de/10012029082

Impact of formal climate risk transfer mechanisms on risk-aversion : empirical evidence from rural Ethiopia

Haile, Kaleab K.; Nillesen, Eleonora; Tirivayi, Nyasha - 2019

This study examines the effect of smallholder farmers' access to a formal climate risk transfer mechanism on their risk …-purchaser farmers. Similarly, non-purchasers would have attained a significant reduction in their risk-aversion if they had taken up the … insurance product. We also find that WICI has a positive and statistically significant effect on farmers' real-life risk …

Persistent link: https://www.econbiz.de/10012030673

Compensation in personal injury cases : mean or median income?

Danziger, Leif; Katz, Eliakim - 2019

Courts typically base compensation for loss of income in personal injury cases on either mean or median work income. Yet, quantatively, mean and median incomes are typically very different. For example, in the US median income is 65 percent of mean income. In this paper we use economic theory to...

Persistent link: https://www.econbiz.de/10012033224

Policy uncertainty and information flows : evidence from pension reform expectations

Ciani, Emanuele; Delavande, Adeline; Etheridge, Ben; … - 2019

Subjective expectations about future policy play an important role in individuals' welfare. We examine how workers' expectations about pension reform vary with proximity to reforms, information cost, and aggregate information acquisition. We construct a new pan-European dataset of reform...

Persistent link: https://www.econbiz.de/10012104108

Adverse selection in the annuity market when payoffs vary over the time of retirement

Brunner, Johann K.; Pech, Susanne - 2001

This paper investigates the effect of adverse selection and price competition on the private annuity market in a model with two retirement periods. In this framework annuity companies can offer contracts with different payoffs over the periods of retirement. Varying the time structure of the...

Persistent link: https://www.econbiz.de/10011397919

On the political economy of social security and public education

Poutvaara, Panu - 2001

This paper proposes and analyzes a model of a European economy with three overlapping generations, redistributive social security, and public universities without tuition. Individuals differ ex ante. The effect of wage tax rate on occupational choice and the voting equilibrium of wage tax rate...

Persistent link: https://www.econbiz.de/10011398016

Risk, return and portfolio allocation under alternative pension arrangements with imperfect financial markets

Miles, David; Černý, Aleš - 2001

between funded and unfunded systems when there are sources of uninsurable risk that are allocated in different ways by …

Persistent link: https://www.econbiz.de/10011398101

Changes in risk and asset prices

Schlesinger, Harris; Gollier, Christian - 2001

We examine asset prices in a representative-agent model of general equilibrium. Assuming only that individuals are risk … averse, we determine conditions on the changes in asset risk that are both necessary and sufficient for the asset price to … incomplete in the sense of containing an uninsurable background risk, such as a risk on labor income. We extend our model to show …

Persistent link: https://www.econbiz.de/10011398103

Life insurance, precautionary saving and contingent bequest

Chang, Fwu-ranq - 2001

Purchasing life insurance is for the welfare of young children, par-ticularly preteens, who are liquidity constrained. In this paper, we present a life cycle model of life insurance that takes into account the ages of these young beneciaries. We show that, as the child ages, the need for...

Persistent link: https://www.econbiz.de/10011398104