Why is agricultural productivity so low in poor countries relative to the rest of the world? Is it due to geography or …

Around the world, large corporations usually have controlling owners, who are usually very wealthy families. Outside …

demonstrate granular effects in the banking sector on macroeconomic outcomes. The presence of big banks measured by high market …

structures plausibly substitute for weak market institutions in economies undergoing rapid early-stage industrialization. They …

supply of intermediary capital is perfectly elastic. We take the US catastrophe reinsurance market as an example, using … intermediary capital costly. Moreover, financing imperfections can give rise to intermediary market power, so that small changes in … results suggest that the price of reinsurance generally exceeds fair' values, particularly in the aftermath of large events …

This paper examines the market for catastrophe event risk i.e., financial claims that are linked to losses associated … relatively little cat reinsurance against large events. We also find that premiums are high relative to expected losses … transactions that look to capital markets, rather than traditional reinsurance markets, for risk-bearing capacity. These provide …

This paper examines the market for catastrophe event risk i.e., financial claims that are linked to losses associated … relatively little cat reinsurance against large events. We also find that premiums are high relative to expected losses … transactions that look to capital markets, rather than traditional reinsurance markets, for risk-bearing capacity. These provide …