We present a growth model where agents divide time between rent seeking in the form of resource competition; and … working in a human capital sector, interpreted as trade or manufacturing. Rent seeking exerts negative externalities on the … productivity of human capital, generating multiple steady states. Adding shocks to the model -- in the form of violence in the rent …

A strategically minded CFO will realize that strategic corporate risk management is about finding the right balance … between risk prevention and proactive value generation. Efficient risk and performance management requires adequate assessment … of risk and risk exposures on the one hand and performance on the other. Properly designed, a risk measure should provide …

In an analysis of the risk-sharing properties of different types of pension systems, we show that only a fixed-fee pay …-as-you-go (PAYG) pension systems can provide intergenerational risk sharing for living individuals. Under some circumstances, however …