Showing 1 - 10 of 108
We analyze the long-run and short-run implications of financial liberalization in a small open economy. Our main results are as follows. First, whether financial deregulation in one sector can improve production efficiency may depend on financial regulation in other sectors. Second, financial...
Persistent link: https://www.econbiz.de/10005416471
) a wage subsidy to re-employed workers; (iii) unemployment insurance; (iv) moderate job protection; and (v) active labor …
Persistent link: https://www.econbiz.de/10011257670
can be used to self-insure, substituting for both formal and informal insurance. We investigate this question using a … remittances, which supports the idea that remittances act as (self-) insurance. We also show that purchasing formal funeral cover … is influenced by other risk management strategies and that determinants of informal insurance differ from those of formal …
Persistent link: https://www.econbiz.de/10008572573
Redistribution is an inevitable feature of collective pension schemes. Nevertheless, it is still an open question what people’s preferences are regarding this form of redistribution. This paper reviews experimental evidence on preferences regarding redistribution and asks what this evidence...
Persistent link: https://www.econbiz.de/10008498990
The purpose of this paper is to compare the cost efficiency of private and public property insurance providers in …, using estimation techniques that correct for measurement error. We develop tools to cope with heteroskedasticity in such … measurement errors and apply the model to a data set on 19 firms in housing insurance markets in Switzerland. We show that the …
Persistent link: https://www.econbiz.de/10005181391
coordinated production programs, featuring pooled resources - and also via adaptive procedures. Extra value - or an insurance …
Persistent link: https://www.econbiz.de/10005405922
We consider a competitive insurance market with adverse selection. Unlike the standard models, we assume that … limited liability afforded via bankruptcy laws. Government assistance is calculated ex post of any insurance benefits. This … alters the individuals’ demand for insurance coverage. In turn, this affects equilibria in various insurance models of …
Persistent link: https://www.econbiz.de/10005406423
This paper discusses the need and scope for an active fiscal stabilization policy. It is argued that the effectiveness of fiscal policy as a short run stabilizer does not depend on the long run multipliers of (balanced budget) fiscal policies. To the extent that activity can be affected by...
Persistent link: https://www.econbiz.de/10005196205
In this paper, we employ a registry of legal insider trading for Dutch listed firms to investigate the information content of trades by corporate insiders. Using a standard event-study methodology, we examine short-term stock price behavior around trades. We find that purchases are followed by...
Persistent link: https://www.econbiz.de/10005034632
Foreign direct investments (FDI) are an important determinant of economic growth. Coun-tries try to attract mobile capital in order to foster economic development, albeit FDI might increase regional inequality since the many different regions of a country usually do not receive FDI in equal...
Persistent link: https://www.econbiz.de/10010598908