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Risk Shifting, Unemployment Insurance, and Layoffs
Grossman, Herschel I. - 2021
analysis focuses on the interaction between contractual arrangements for shifting risk from workers to employers and tax …-financed unemployment insurance. The key element in the analysis is that unemployment insurance is more attractive than risk shifting as a … way for workers to obtain income during unemployment. The paper also analyses the effects of risk shifting and …
Persistent link: https://www.econbiz.de/10013214609
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Explosive rational bubbles in stock prices?
Diba, Behzad - In: The American economic review 78 (1988) 3, pp. 520-530
Persistent link: https://www.econbiz.de/10001047295
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A general equilibrium model of insurrections
Grossman, Herschel I. - In: The American economic review 81 (1991) 4, pp. 912-921
Persistent link: https://www.econbiz.de/10001111139
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Production, appropriation, and land reform
Grossman, Herschel I. - In: The American economic review 84 (1994) 3, pp. 705-712
Persistent link: https://www.econbiz.de/10001166257
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Sovereign debt as a contingent claim : excusable default, repudiation, and reputation
Grossman, Herschel I. - In: The American economic review 78 (1988) 5, pp. 1088-1097
Persistent link: https://www.econbiz.de/10001059085
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The creation of effective property rights
Grossman, Herschel I. - In: The American economic review 91 (2001) 2, pp. 347-352
Persistent link: https://www.econbiz.de/10001585286
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Rational Bubbles in Stock Prices?
Diba, Behzad - 2008
This paper reports empirical tests for the existence of rational bubbles in stock prices. The analysis focuses on a familiar model that defines market fundamentals to be the expected present value of dividends, discounted at a constantrate, and defines a rational bubble to be a self-confirming...
Persistent link: https://www.econbiz.de/10012774692
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The Impossibility of Rational Bubbles
Diba, Behzad - 2008
A rational bubble would involve a self-confirming belief that an asset price depends on information that includes variables or parameters that are not part of market fundamentals. The existing literature shows that, if market fundamentals are economically interesting, i.e., forward looking, any...
Persistent link: https://www.econbiz.de/10012774698
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A Theory of War Finance
Grossman, Herschel I. - 2008
consumption against the risk associated with the material consequences of the war …
Persistent link: https://www.econbiz.de/10012774852
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Sovereign Debt and Consumption Smoothing
Grossman, Herschel I. - 2008
This paper shows that whether or not a sovereign can borrow to smooth consumption depends both on how consumption smoothing is achieved, whether by contingent debt issuance or by contingent debt servicing, and on the exact nature of the penalty for debt repudiation. If a sovereign that...
Persistent link: https://www.econbiz.de/10012774949