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The enlargement of the European Monetary Union is likely to lead to an increase in uncertainty regarding the transmission of monetary policy for the larger union. Adding new members to the central bank council will in addition imply that the policy reaction of the enlarged council will be...
Persistent link: https://www.econbiz.de/10003110104
We measure the economic risk of epidemics at a geo-spatially detailed resolution. In addition to data about the …’s resilience (its ability of the recover rapidly from the shock). We find that the economic risk of epidemics is particularly high …
Persistent link: https://www.econbiz.de/10012156716
, exposing them to the risk of having to pay a large premium in case they are discovered to have a high probability of developing … a disease (a discrimination risk). Differently, Consent Law allows them to hide this detrimental information, creating … exogenous values of adverse selection under Consent Law, and the repeated interactions experiment devised has not resulted in …
Persistent link: https://www.econbiz.de/10010433974
to the credibility revolution) tends to put too much emphasis on internal aspects related solely to the study itself. To …
Persistent link: https://www.econbiz.de/10014632289
framework. We test the model’s predictions in a laboratory experiment. Both in theory and in the experiment diagnostic … uncertainty decreases the rate of efficient service provision and leads to less trade. In theory, insurance also decreases the … net effect on welfare. In the experiment, the net effect of insurance coverage on efficiency turns out to be positive. We …
Persistent link: https://www.econbiz.de/10012312079
We conduct an experiment with a representative sample from the US to study households’ demand for macroeconomic … information. Respondents who learn of a higher personal exposure to unemployment risk during recessions increase their demand for … rational inattention that demand for information depends on its expected benefit. Moreover, the fact that perceived risk …
Persistent link: https://www.econbiz.de/10012300259
We measure the economic risk of COVID-19 at a geo-spatially detailed resolution. In addition to data about the current … prevalence of confirmed cases, we use data from 2014-2018 and a conceptual disaster risk model to compute measures for exposure ….e., its ability of the recover rapidly from the shock). We find that the economic risk of this pandemic is particularly high …
Persistent link: https://www.econbiz.de/10012231556
Institutions are important for proper economic performance, but are replaceable by trust or other social norms. We show that when proper institutions and trust are missing, integrity of the individuals can replace them. We construct a model of a transactions-based economy with contracts...
Persistent link: https://www.econbiz.de/10003872201
small spending by special interests. -- lobbying ; voting ; special interests ; credibility …
Persistent link: https://www.econbiz.de/10009532679
We develop a sovereign debt model with official and private creditors where default risk depends on both the level and …
Persistent link: https://www.econbiz.de/10009772971