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Limiting limited liability
Dari-Mattiacci, Guiseppe - 2006
Limited liability may result in inefficient accident prevention, because a relevant portion of the expected harm is externalized on victims. This paper shows that under some restrictive conditions further limiting liability by means of a liability cap can improve caretaking.
Persistent link: https://www.econbiz.de/10011349185
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State-aided price coordination in the dutch mortgage market
Dijkstra, Mark A.; Schinkel, Maarten-Pieter - 2019 - Revision: July 2019
mortgage providers but the largest bank shifted the Dutch mortgage market from a competitive to a collusive price leadership … equilibrium. In May 2009, mortgage rates in The Netherlands suddenly rose against the decreasing funding cost trend to almost a …, and estimate response adjustments in cointegrating equations on a large data set of daily mortgage rates 2004 …
Persistent link: https://www.econbiz.de/10011979609
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Till debt do us part : strategic divorces and a test of moral hazard
Kim, Yeorim; Mastrogiacomo, Mauro; Hochgürtel, Stefan; … - 2022
debt. We study the Dutch context, where qualifying homeowners can buy into a mortgage guarantee scheme that insures the … administrative data, we find a significant, 44% increase in the probability to divorce for households with an underwater mortgage … mortgage. Their home equity averages to about €-50.000. Couples with similar characteristics just above the qualification …
Persistent link: https://www.econbiz.de/10013332708
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The Reverse Talmud Rule for bankruptcy problems
Brink, René van den; Funaki, Yukihiko; Laan, Gerard van der - 2008
Persistent link: https://www.econbiz.de/10003756545
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A game theoretical approach to sharing penalties and rewards in projects
Estévez-Fernández, Arantza - 2009
Persistent link: https://www.econbiz.de/10003913133
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Default risk premia on government bonds in a quantitative macroeconomic model
Juessen, Falko; Linnemann, Ludger; Schabert, Andreas - 2009
Persistent link: https://www.econbiz.de/10003913174
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A game theoretical approach to sharing penalties and rewards in projects
Estévez-Fernández, Arantza - 2009
This paper analyzes situations in which a project consisting of several activities is not realized according to plan. Ifthe project is expedited, a reward arises. Analogously, a penalty arises if the project is delayed. This paper considersthe case of arbitrary nondecreasing reward and penalty...
Persistent link: https://www.econbiz.de/10011379216
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Default risk premia on government bonds in a quantitative macroeconomic model
Jüßen, Falko; Linnemann, Ludger; Schabert, Andreas - 2009
This paper examines the pricing of public debt in a quantitative macroeconomic model with government default risk. Default may occur due to a fiscal policy that does not preclude a Ponzi game. When a build-up of public debt makes this outcome inevitable, households stop lending such that the...
Persistent link: https://www.econbiz.de/10011379436
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A note on passepartout problems
Estévez-Fernández, Arantza; Borm, Peter; Hamers, Herbert - 2010
This note provides a methodological contribution to the allocation of joint revenues obtained from passepartouts. In a passepartout system a group of service providers offers a passepartout that allows its owners the use of specified services for an unlimited number of times during a fixed...
Persistent link: https://www.econbiz.de/10011380133
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Debt, deficits, and destabilizing monetary policy in open economies
Schabert, Andreas; Wijnbergen, Sweder van - 2006 - Revised Version: May 2006
Blanchard (2005) suggested that active interest rate policy might induce unstable dynamics in highly-indebted economies. We examine this in a dynamic general equilibrium model where Calvo-type price rigidities provide a rationale for inflation stabilization. Unstable dynamics can occur when the...
Persistent link: https://www.econbiz.de/10011349206