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Haubrich, Joseph G.; King, Robert G. - 2021

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 …

Persistent link: https://www.econbiz.de/10013249178

The Promise and Pitfalls of Conflict Prediction : Evidence from Colombia and Indonesia

Bazzi, Samuel - 2019

Policymakers can take actions to prevent local conflict before it begins, if such violence can be accurately predicted. We examine the two countries with the richest available sub-national data: Colombia and Indonesia. We assemble two decades of fine-grained violence data by type, alongside...

Persistent link: https://www.econbiz.de/10012867902

Artificial Intelligence and Consumer Privacy

Jin, Ginger Zhe - 2018

Thanks to big data, artificial intelligence (AI) has spurred exciting innovations. In the meantime, AI and big data are reshaping the risk in consumer privacy and data security. In this essay, I first define the nature of the problem and then present a few facts about the ongoing risk. The bulk...

Persistent link: https://www.econbiz.de/10012928998

Combining Family History and Machine Learning to Link Historical Records

Price, Joseph - 2019

A key challenge for research on many questions in the social sciences is that it is difficult to link historical records in a way that allows investigators to observe people at different points in their life or across generations. In this paper, we develop a new approach that relies on millions...

Persistent link: https://www.econbiz.de/10012863272

Belief Distortions and Macroeconomic Fluctuations

Bianchi, Francesco; Ludvigson, Sydney C.; Ma, Sai - 2022

This paper combines a data rich environment with a machine learning algorithm to provide new estimates of time-varying systematic expectational errors ("belief distortions") embedded in survey responses. We find that distortions are large even for professional forecasters, with all...

Persistent link: https://www.econbiz.de/10014095817

Relationship Banking and the Pricing of Financial Services

Calomiris, Charles W. - 2010

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

Persistent link: https://www.econbiz.de/10012760608

Aig in Hindsight

McDonald, Robert L. - 2015

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 …

Persistent link: https://www.econbiz.de/10013024150

Econometric Measures of Systemic Risk in the Finance and Insurance Sectors

Billio, Monica - 2010

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 …

Persistent link: https://www.econbiz.de/10013139889

Insurance Underwriter or Financial Development Fund : What Role for Reserve Pooling in Latin America?

Eichengreen, Barry - 2010

The accumulation of international reserves by emerging markets raises the question of how to best utilize these funds. This paper explores two routes through which the pooling of reserves could enhance stability and welfare. First, the reserve pool could be used for emergency lending in response...

Persistent link: https://www.econbiz.de/10012760717

Has the U.S. Finance Industry Become Less Efficient? on the Theory and Measurement of Financial Intermediation

Philippon, Thomas - 2014

I provide a quantitative interpretation of financial intermediation in the U.S. over the past 130 years. Measuring separately the cost of intermediation and the production of financial services, I find that: (i) the quantity of intermediation varies a lot over time; (ii) intermediation is...

Persistent link: https://www.econbiz.de/10013066115

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