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between a safe technology and a risky (but socially inefficient) technology, and bank risk-taking is endogenous. Setting the …
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How exposure to risk affects economic growth is a key issue in development. This article quantifies both the ex ante and ex post effects of risk using long-running panel data for rural households in Zimbabwe. It proposes a simulation-based econometric methodology to estimate the structural form...
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A growth model, in which economic growth is driven by R&D activities, is constructed to analyse issues related to the riskiness of R&D. It is shown that when R&D are risky strongly-risk-averse behaviour may suffocate the potential growth of a closed economy if risk-sharing arrangements are...
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maximize bank profits. These contracts are derived for both a monopolistic and a competitive banking industry. The analysis …
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