Showing 1 - 10 of 96
We model experimentally the governance of an institution. The optimal management of this institution depends on the information possessed by insiders. However, insiders, whose interests are not aligned with the interests of the institution, may choose to use their information to further personal...
Persistent link: https://www.econbiz.de/10010397394
In this paper we investigate the extent to which insurance companies utilize financial derivatives contracts in the management of risks. The data set we employ allows us to observe the universe of individual insurer transactions for a class of contracts, namely, those normally through of as...
Persistent link: https://www.econbiz.de/10010397503
This paper models, and experimentally simulates, the free-rider problem in a takeover when the raider has the option to "resolicit," that is, to make a new offer after an offer has been rejected. In theory, the option to resolicit, by lowering offer credibility, increases the dissipative losses...
Persistent link: https://www.econbiz.de/10010397559
In this paper we formulate and test a number of hypotheses regarding insurer participation and volume decisions in derivatives markets. Several specific hypotheses are supported by our analysis. We find evidence consistent with the idea that insurers are motivated to use financial derivatives to...
Persistent link: https://www.econbiz.de/10010397580
corporate tax borne by capital and labor and the efficiency effects of corporate income tax. The data for the study is compiled … period 2000-15. Our empirical estimates suggest that in India capital bears more of the burden of corporate taxes than labor … capital, it confirms the existing empirical results in the context of India. …
Persistent link: https://www.econbiz.de/10011784688
analysis is conducted at two primary levels of abstraction - "capital in general" (where competition between individual … located at the level of "capital in general" and the analysis in the third volume is located at the level of "many capitals …
Persistent link: https://www.econbiz.de/10011788915
We scrutinize the monetary transmission mechanism in New-Keynesian models, focusing on the role of capital, the key …
Persistent link: https://www.econbiz.de/10011796508
This paper presents a model of fertility, which is specific for the industrialization that took place during the nineteenth century and which was concurrent with the demographic transition that occurred over the period. While previous research on demographic transition assumed altruism as the...
Persistent link: https://www.econbiz.de/10013204727
Intangible capital is an important factor of production in modern economies that is generally neglected in business … cycle analyses. We demonstrate that intangible capital can have a substantial impact on business cycle dynamics, especially … if the intangible is complementary with production capacity. We focus on customer capital: the capital embodied in the …
Persistent link: https://www.econbiz.de/10010352192
The authors examine the relative importance of the growth of physical and human capital and the growth of total factor …
Persistent link: https://www.econbiz.de/10010397560