baseline case where financial frictions are zero. Consistent with theory, small firms and firms without bond ratings show the …

, disability, and life insurance. Consistent with the predictions of the theory, in all three settings I find significant amounts …Across a wide set of non-group insurance markets, applicants are rejected based on observable, often high … be rejected relative to those who can purchase insurance; and I show it is enough private information to explain a …

We propose and test a theory of corporate liquidity management in which credit lines provided by banks to firms are a … form of monitored liquidity insurance. Bank monitoring and resulting credit line revocations help control illiquidity … because the cost of monitored liquidity insurance increases with liquidity risk. We exploit a quasi-experiment around the …

does not alter this result. We also show that the informationally constrained optimal insurance contract has a resetting …

Using a model with constant relative risk-aversion preferences, endogenous labor supply and partial insurance against … cost associated with missing insurance markets. On the other hand, greater wage dispersion presents opportunities to raise …

illness can significantly increase the value of statistical life, helping to reconcile theory with empirical findings that …

Insurance affects the variability of consumption over time, which is not captured in standard expected utility of … value of insurance. Liquidity constraints generate high insurance demand when premiums are due smoothly, sometimes leading … to seemingly dominated choices. Conversely, a risk-averse person may value insurance below its expected value and appear …

This paper investigates the rationale for government intervention in the market for terrorism insurance, focusing on … rational terrorists. Government subsidies for terror insurance can discourage self-protection and limit the inefficiencies …

-free real rate of interest is positive, the price of such an inflation insurance policy first rises and then falls with time to … inflation and the real risk premium on nominal bonds. When a deductible is introduced, the insurance policy can no longer be … insurance contracts are priced using the model developed by Black-Merton-Scholes. Pricing an inflation insurance policy with a …