the world than many developing countries. A noteworthy feature of this theory is that financial and property rights …

Disparity between control and ownership rights gives rise to the risk of tunneling by the controlling shareholder, and …

risk is the dominant force, the size distribution of disasters follows a power law, and the economy has a representative … difference between the power-law tail parameter and the coefficient of relative risk aversion, γ. The options-pricing formula …

. However, in a Lucas-tree world, the aggregate risk is given by the process for GDP and cannot be altered by the creation of … will be nil. With heterogeneity in coefficients of relative risk aversion, safe assets can take the form of private bond … issues from low-risk-aversion to high-risk-aversion agents. The model assumes Epstein-Zin/Weil preferences with common values …

offer to help students prepare for the world of work,' and an accompanying survey includes information on school …