Narrow search
Showing 1 - 10 of 243
Cover Image
Market Design in Regulated Health Insurance Markets : Risk Adjustment vs. Subsidies
Einav, Liran; Finkelstein, Amy; Tebaldi, Pietro - National Bureau of Economic Research - 2024
Health insurance is increasingly provided through managed competition, in which subsidies for consumers and risk …
Persistent link: https://www.econbiz.de/10014576615
Cover Image
Evolution of Debt Financing toward Less-Regulated Financial Intermediaries in the United States
Erel, Isil; Inozemtsev, Eduard - National Bureau of Economic Research - 2024
Nonbank lenders have been playing an increasing role in supplying debt, especially after the Great Recession. How important are the distortions in the greater regulation of banks that differentially limit risk-taking across alternative providers of credit? How might the growing role of nonbanks...
Persistent link: https://www.econbiz.de/10014486206
Cover Image
The Secular Decline of Bank Balance Sheet Lending
Buchak, Greg; Matvos, Gregor; Piskorski, Tomasz; Seru, Amit - National Bureau of Economic Research - 2024
The traditional model of bank-led financial intermediation, where banks issue demandable deposits to savers and make informationally sensitive loans to borrowers, has seen a dramatic decline since 1970s. Instead, private credit is increasingly intermediated through arms-length transactions, such...
Persistent link: https://www.econbiz.de/10014486266
Cover Image
Chinese Insurance Markets : Developments and Prospects
Fang, Hanming; Xu, Xian - National Bureau of Economic Research - 2023
In this chapter, we review the development of the insurance industry in China. We provide a comprehensive discussion of … its regulatory framework, major insurance segments, market structure, InsurTech, social insurance and the prospects for …
Persistent link: https://www.econbiz.de/10014287393
Cover Image
Where Do Banks End and NBFIs Begin?
Acharya, Viral V.; Cetorelli, Nicola; Tuckman, Bruce - National Bureau of Economic Research - 2024
In recent years, assets of non-bank financial intermediaries (NBFIs) have grown significantly relative to those of banks. These two sectors are commonly viewed either as operating in parallel, performing different activities, or as substitutes, performing substantially similar activities, with...
Persistent link: https://www.econbiz.de/10014528356
Cover Image
CBDCs, Payment Firms, and Geopolitics
Berg, Tobias - 2024
We analyze the effect of a major central bank digital currency (CBDC) - the digital euro - on the payment industry to find remarkably heterogeneous effects. Stock prices of U.S. payment firms decrease, while stock prices of European payment firms increase in response to positive announcements on...
Persistent link: https://www.econbiz.de/10015056184
Cover Image
Access to Credit Reduces the Value of Insurance
Jaffe, Sonia; Malani, Anup; Reif, Julian - National Bureau of Economic Research - 2024
We analyze the value of insurance when individuals have access to credit markets. Loans allow consumers to smooth … financial shocks over time, decreasing the value of consumption smoothing from insurance. We derive formulas for the value of … insurance that can be taken to data, and show how that value depends on individual characteristics and features of loans. We …
Persistent link: https://www.econbiz.de/10014544674
Cover Image
Rent Guarantee Insurance
Abramson, Boaz; Nieuwerburgh, Stijn van - National Bureau of Economic Research - 2024
A rent guarantee insurance (RGI) policy makes a limited number of rent payments to the landlord on behalf of an insured … society. While unrestricted access is not financially viable with either private or public insurance providers due to moral …
Persistent link: https://www.econbiz.de/10014576611
Cover Image
Aggregate Lapsation Risk
Koijen, Ralph S. J.; Lee, Hae Kang; Nieuwerburgh, Stijn van - National Bureau of Economic Research - 2022
We study aggregate lapsation risk in the life insurance sector. Using the regulatory reporting of historical lapse … risk factors that explain a large fraction of the common variation in lapse rates of the 30 largest life insurance … and valuation of life insurance contracts. Ignoring aggregate lapsation risk results in cross-subsidization across …
Persistent link: https://www.econbiz.de/10013334405
Cover Image
Employer 401(k) Matches for Student Debt Repayment : Killing Two Birds with One Stone?
Horneff, Vanya; Maurer, Raimond; Mitchell, Olivia S. - National Bureau of Economic Research - 2024
Almost 50 million Americans are burdened by the need to repay almost $2 trillion in student loan debt, while at the same time having to save for retirement. This article analyzes the potential impact of the 2022 SECURE 2.0 Act reform which permits employers to match contributions for student...
Persistent link: https://www.econbiz.de/10014544722