macroeconomic and political uncertainty. Demand for macroeconomic shock insurance was high; 36.7 percent of microentrepreneurs in … the treatment group purchased insurance. However, purchasing insurance does not change the likelihood that a business … that, contrary to what they profess, macroeconomic and political risk is not inhibiting the investment behavior of …

This paper studies the impact of competition on the determination of interest rates, and on banks’ risk taking … lower entry costs foster competition in deposit rates and reduce banks’ incentives to limit risk exposure. While higher … insurance coverage amplifies this effect, two alternative arrangements (risk based contributions to the deposit insurance fund …

by heterogeneous lotteries. Applications to welfare economics, committee decision-making, insurance, finance, and …

Theory suggests that people facing higher uninsurable background risk buy more insurance against other risks that are … casualty insurance increases with earnings uncertainty. This finding is consistent with consumer preferences being …

of financial integration on business cycle synchronization as a robust regularity. We use a confidential dataset on banks …

prices that banks pay for liquidity, captured here by borrowing rates in repos with the central bank and benchmarked by the … overnight index swap. We have price data at the individual bank level and, unique to this paper, data on individual banks … liquidity. We find that the price a bank pays for liquidity depends on the liquidity positions of other banks, as well as its …

we show that these schemes should respond to actual risk choices, rather than be limited to anticipated risk choices. …

This paper provides an explanation for the urge of banks to merge and expand scope. We build a model where bank … not be too competitive, and could point to a benefit of merging insofar as mergers reduce competition and deepen the banks …