hedge funds, banks, brokers, and insurance companies based on principal components analysis and Granger-causality tests. We … the finance and insurance industries. These measures can also identify and quantify financial crisis periods, and seem to …, banks, insurance companies, and brokers …

rate among these children. Because not all of the take-up of public insurance among eligible children is accounted for by … children who transfer from being uninsured to having public insurance, our results suggest that there may be some crowd-out of … private insurance coverage; the upper bound crowd-out rate we calculate is 46 percent …

least insured. We document this risk-insurance pattern in data on life-insurance drawn from the Survey of Consumer Finance …. A calibrated version of the model can quantitatively account for the life-cycle variation of insurance observed in the … US data and implies welfare costs of under-insurance for young households that are equivalent to a 4 percent reduction in …

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

causal estimates of the effects of decreased generosity of disability insurance (DI) on behavior of existing DI recipients …

market. We show that insurance companies, the largest institutional holders of corporate bonds, reach for yield in choosing … their investments. Consistent with lower rated bonds bearing higher capital requirement, insurance firms' prefer to hold … higher rated bonds. However, conditional on credit ratings, insurance portfolios are systematically biased toward higher …

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 …-seeking behavior by firms. Firms with high liquidity risk are likely to use cash rather than credit lines for liquidity management …

Federal Housing Administration (FHA) insurance has doubled over the past two years and is projected to redouble to $1 ….5 trillion over the next five. Despite clear signs of strain in the FHA's Mutual Mortgage Insurance Fund, a recent actuarial …

measure of underinsurance will underestimate the number with low levels of insurance coverage due to moral hazard. We propose … small- versus large-firm workers with full-year, employer-sponsored insurance. Using data from the 2005 Medical Expenditure …

productivity, to study the efficient degree of consumption inequality in the long run. In our environment a utilitarian planner … does not alter this result. We also show that the informationally constrained optimal insurance contract has a resetting …