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Optimal dynamic risk sharing when enforcement is a decision variable
Koeppl, Thorsten V. - 2003
Societies provide institutions that are costly to use, but able to enforce long-run relationships. We study the optimal decision problem of using self-governance for risk sharing or governance through enforcement provided by these institutions. Third-party enforcement is modelled as a costly...
Persistent link: https://www.econbiz.de/10009635888
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Relevant economic issues concerning the optimal rate of inflation
Rodriguez-Palenzuela, Diego; Camba-Mendez, Gonzalo; … - 2003
This paper reviews the key economic issues concerning the welfare costs of inflation and deflation, with a view to …
Persistent link: https://www.econbiz.de/10009635897
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Risk sharing through financial markets with endogenous enforcement of trades
Köppl, Thorsten V. - 2004
When people share risk in financial markets, intermediaries provide costly enforcement for most trades and, hence, are an integral part of financial marketsu0092 organization. We assess the degree of risk sharing that can be achieved through financial markets when enforcement is based on the...
Persistent link: https://www.econbiz.de/10009636542
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Does bargaining matter in the small firm's matching model?
l’Haridon, Olivier; Malherbet, Franck; Pérez-Duarte, … - 2011
's matching model of unemployment. To the best of our knowledge, this is the first attempt to implement and systematically compare … these solutions in search-matching economies. Our results are twofold. First from the theoretical and methodological … viewpoint, we extend a somewhat flexible search-matching economy to alternative bargaining solutions. In particular, we prove …
Persistent link: https://www.econbiz.de/10009639478
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Sustainable work over the life course : concept paper
European Foundation for the Improvement of Living and … - 2015
Ageing of the population is likely to threaten the ability of states to finance welfare states and social protection …
Persistent link: https://www.econbiz.de/10011298681