reforms, we model IFIs´ interventions as country insurance policies. We find that country insurance (especially when made … country insurance on reform incentives, however, hinge on the nature of the reforms being considered: "buffering" reforms … aimed at mitigating the cost of crises will be partially substituted for by insurance, and may be ultimately discouraged; by …

to undertake reforms. In this paper we treat this intervention more generally as a country insurance contract, and … examine its implications in a stylized set-up. More precisely, we identify the conditions under which the positive insurance … the case for country insurance is stronger for crisis-prone volatile economies, especially so if assistance is made …

explain U.S. inequality. We introduce full insurance opportunities in a standard model of inequality along the lines of …