The article analyses the main amendments brought by Law of the social work no. 292/2011 from the perspective of the social management and efficiency of social work system reform in Romania. Given the necessity of restructuration of the system of social benefits and services, the reform project...

The paper studies the asset pricing implications of economic disaster risk in the financial markets. We consider rare events as jumps in aggregate consumption with time-varying intensity. We use a general equilibrium framework with recursive preferences and allow the elasticity of intertemporal...