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Persistent link: https://www.econbiz.de/10011970063
This paper analyzes the optimal response of the social insurance system to a rise in labor market risk. To this end, we develop a tractable macroeconomic model with risk-free physical capital, risky human capital (labor market risk) and unobservable effort choice affecting the distribution of...
Persistent link: https://www.econbiz.de/10011977744
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The well-known positive relationship between the unemployment benefit level and unemployment duration can be separated into two potential sources; a moral hazard effect, and a liquidity effect pertaining to the increased ability to smooth consumption. The latter is a socially optimal response...
Persistent link: https://www.econbiz.de/10011951926
We examine whether economic downturns are beneficial to health outcomes of newborn infants in developed countries. For this we use merged populationwide registers on health and economic and demographic variables, including the national medical birth register and intergenerational link registers...
Persistent link: https://www.econbiz.de/10011951929
in the composition of bank deposits from time deposits and demand deposits to savings deposits and rising levels of Bank … Indonesia certificates held by banks, respectively. However, increase in bank soundness, coupled with confidence in IDIC … risk-free Bank Indonesia certificates as a good investment. Risk-taking behavior by savers and banks alike seems to be …
Persistent link: https://www.econbiz.de/10011905698
The paper evaluates the impact of macroprudential capital regulation on bank capital, risk taking behaviour, and … solvency. The identification relies on the policy change in bank-level capital requirements across systemically important banks …
Persistent link: https://www.econbiz.de/10012000139
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This paper provides a complete characterization of optimal contracts in principal-agent settings where the agent's action has persistent effects. We model general information environments via the stochastic process of the likelihood-ratio. The martingale property of this performance metric...
Persistent link: https://www.econbiz.de/10011891844