Showing 1 - 10 of 123
Persistent link: https://www.econbiz.de/10012605965
We present a model in which banks and other financial intermediaries face both occasionally binding borrowing constraints, and costs of equity issuance. Near the steady state, these intermediaries can raise equity finance at no cost through retained earnings. However, even moderately large...
Persistent link: https://www.econbiz.de/10011962846
's vulnerability to periods of heightened risk and uncertainty. This paper develops a framework to evaluate such vulnerabilities. It … and explore how they are affected by domestic and global risk. We apply this framework to ten OECD economies, showing the … Kingdom, show that a substantial degree of international risk sharing can occur through current accounts and international …
Persistent link: https://www.econbiz.de/10011477292
Time pressure is a central aspect of economic decision making nowadays. It is therefore natural to ask how time pressure affects decisions, and how to detect individual heterogeneity in the ability to successfully cope with time pressure. In the context of risky decisions, we ask whether a...
Persistent link: https://www.econbiz.de/10011899690
Persistent link: https://www.econbiz.de/10000885117
Persistent link: https://www.econbiz.de/10000767259
"In 1997 Chancellor Kohl proposed a major pension reform and pushed the law through Parliament explaining that the German PAYG system had become unsustainable. One limitation of the new law -- one that is crucial for our identification strategy -- is that it left the generous pension...
Persistent link: https://www.econbiz.de/10003730695
Persistent link: https://www.econbiz.de/10003731174
Persistent link: https://www.econbiz.de/10003356611
Persistent link: https://www.econbiz.de/10003319792