financial variables changes the model dynamics and delivers price responses which are more in line with economic theory. A …

aggregate risk and smooth consumption through savings and consumer loans intermediated by banks. The banking friction introduces …

positive impact on uncertainty levels that is, in particular, weaker than the impact of the real business cycle shock. Taking a … policy uncertainty decreases after a lockdown shock. …

This chapter reviews the theory of the voluntary public and private redistribution of wealth elaborated by economic … analysis in the last forty years or so. The central object of the theory is altruistic gift-giving, construed as benevolent … voluntary redistribution of income or wealth. The theory concentrates on lump-sum voluntary transfers, individual or collective …

Risk classification refers to the use of observable characteristics by insurers to group individuals with similar … expected claims, to compute the corresponding premiums, and thereby to reduce asymmetric information. Permitting risk … undesirable equity consequences and undermine the implicit insurance against reclassification risk which legislated restrictions …