Mankaï, Selim; Belgacem, Aymen - EconomiX, Université Paris Ouest-Nanterre la Défense … - 2013
Theory and empirical evidence suggest short-run interactions between capital and risk. This paper analyzes the effects of reinsurance, as a new endogenous decision variable, on this policy mix. We examine this issue using a system of simultaneous equations applied to the U.S. property-liability...