This paper considers a simple model of credit risk and derives the limit distribution of losses under different assumptions regarding the structure of systematic and idiosyncratic risks and the nature of firm heterogeneity. The theoretical results obtained indicate that if firm-specific risk...

The goal of this paper is to provide a preliminary overview of empirical Capability Approach (CA) applications for high-income OECD countries. The survey aims at a basis of mutual exchange on relevant CA issues among researchers analyzing well-being in affluent countries. It focuses on CA...