We study the dependence between the downside risk of European banks and insurers. Since the downside risk of banks and … insurers differs, an interesting question from a supervisory point of view is the risk reduction that derives from … diversification within large banks and financial conglomerates. We discuss the limited value of the normal distribution based …

advanced. The obligation to pay of bride wealth is seen as informal insurance which relies on the fact that bride wealth … insurance mechanisms, bride wealth qualifies as an important security enhancing institution: the arrangement covers nearly the … involved are large and the period of time during which the claims provide security long. Like any informal insurance …

worker buys an insurance, which gives a constant income and retirement benefits in exchange for the total output. The level …

This paper empirically analyzes moral hazard in car insurance using a dynamic theory of an insuree's dynamic risk (ex …

This paper presents a new axiomatic characterization of risk measures that are additive for independent random … variables. In contrast to previous work, we include an axiom that guarantees monotonicity of the risk measure. Furthermore, the …. The risk measure characterized can be regarded as a mixed exponential premium. …

asymmetric information the banks face the risk of adverse selection. Credit Value-at-Risk (CVaR) regulation counters the problem …Banks provide risky loans to firms which have superior information regarding the quality of their projects. Due to … of low quality, i.e. high risk, loans and therefore reduces the risk of the bank loan portfolio. However, CVaR regulation …

help rural households to pool risk. In this paper I investigate two functions of transfers in Ethiopia: risk pooling and … income redistribution. Unlike most of the literature this paper investigates not only whether but also how much risk pooling … households. However, the contributions of transfers to risk pooling and income redistribution are economically very limited. …

This paper proposes that risk aversion encourages individuals to invest in balanced skill profiles, making them more … the impacts both of risk aversion and balanced skills on the likelihood individuals choose entrepreneurship. Data on Dutch … university graduates provides evidence which supports this contention. It thereby raises the possibility that even risk …

replicating portfolio is extremely effective as a hedge against the interest rate risk involved in the GAO, that the static …