the seemingly failure of the private insurance market to provide coverage for terrorism losses after the attack on … September 11, 2001. This paper surveys the evidence of the supposed private market failures after 9/11 and the arguments for … government provision of terrorism insurance. The paper argues that mostly unfettered insurance and capital markets are capable of …

To investigate how fuel economy is valued in the Indian car market, we compute the cost to Indian consumers of … hedonic price functions for four market segments (petrol hatchbacks, diesel hatchbacks, petrol sedans, and diesel sedans) to … associated present value of fuel savings falls within the 95 percent confidence interval for some specifications, in all market …

In the automobile industry, as in many tradable goods markets, firms usually earn their highest market share within … their domestic market. The goal of this paper is to disentangle the supply- and demand-driven sources of the home market … advantage. While trade costs, foreign production costs, and taste heterogeneity all matter for market outcomes, we find that a …

behavior in the car market. We show that a social planner can use leasing contracts to improve welfare but they are imperfect … tools; they cannot generally achieve first best while other mechanisms can. We also show that a producer with market power … can benefit from leasing contracts for two reasons: better pricing of the option of keeping the used good, and market …

Digital platforms like Uber can enhance market transparency and mitigate moral hazard via ratings of buyers and sellers …

Recent empirical work finds a negative correlation between product market regulation and aggregate employment. We … examine the effect of product market regulations on hours worked in a benchmark aggregate model of time allocation. We find … that product market regulations affect time devoted to market work in effectively the same fashion as do taxes on labor …

We study short-term market risks implied by weekly S&P 500 index options. The introduction of weekly options has … short-term risks. Such short-dated options provide an easy and direct way to study market volatility and jump risks. Unlike … shape of the negative market jump tail risk which is not spanned by market volatility. Incidents of such tail shape shifts …

simultaneously product and labor market imperfections, this paper quantifies industry differences in both types of imperfections … Hall's econometric framework for estimating price-cost margins by nesting three labor market settings (perfect competition … market imperfections. Consistent with differences in institutions and in the industrial relations system in the two countries …

utility context. Individuals start by choosing their investments in education anticipating returns in the marriage market and … the labor market. They then match based on the economic value of marriage and on preferences. Equilibrium in the marriage … market determines intrahousehold allocation of resources. Following marriage households (married or single) save, supply …