This paper considers an economy where individuals differ in productivity and in risk. Rochet (1991) has shown that when … private insurance markets offer full coverage at fair rates, social insurance is desirable if and only if risk and … violated for the old age dependency risk (mainly because longevity in turn is positively correlated with productivity). We …

The risk of default that business firms face is very significant and differs widely across countries. This paper … explores the links between countries' business conditions and international trade embedment and the default risk at the country … default risk of firms which operate in these environments. The predictions are in accord with readily available data …

Economic theory and empirical evidence clearly show that social exclusion dimensions are inter-related. Notwithstanding …

This paper presents evidence suggesting men's (but not women's) risk and time preferences have systematically become … for 22,579 Australian-based respondents in up to 11 surveys from 2002-2015, men respond with increased risk aversion and … since 2008. This 'happiness channel' only partially explains the link between the local unemployment rate and risk …

differences in risk aversion play no significant role in competitive (tournament) vs. piece-rate job choices and consequent gender … wage gaps. Subjects in the treatment experiments are sorted into relatively more and relatively less risk averse groupings …. Relatively less risk averse subjects are assigned to a risky job track involving a known constant probability of unemployment in …