risk insurance, which is manifested in a reduced demand for lines of credit. We also find evidence of a acirc …

pushed AIG to the brink of bankruptcy. AIG used securities lending to transform insurance company assets into residential … solvency of the life insurance companies. AIG also sold insurance on multi-sector collateralized debt obligations, backed by …

privately observable, idiosyncratic random events. The information structure precludes conventional insurance arrangements …. However, a financial institution -- perhaps best viewed as a savings bank -- can provide partial insurance by generating a …, resulting in a level of expected utility higher than that achievable in simple security markets. Insurance is incomplete because …

stimulus to austerity in Europe was quite abrupt. The difference in fiscal stance helps explain the difference in the post …

for the development of public-private partnerships, as recognized in November 2002 when the Terrorism Risk Insurance Act … of 2002 (TRIA) was passed. This paper shows, however, that the temporary insurance system established by TRIA is neither … current level of demand for insurance coverage has remained low and we discuss some factors that may contribute to it. After …