Showing 1 - 10 of 30
This paper studies the cross-country patterns of risky innovation and growth through the lens of international trade. It uses a simple theoretical framework of risky quality upgrading by firms under varying levels of financial development to derive two predictions. First, the mean rate of...
Persistent link: https://www.econbiz.de/10012257050
Persistent link: https://www.econbiz.de/10014248524
This paper studies the cross-country patterns of risky innovation and growth through the lens of international trade. We use a simple theoretical framework of risky quality upgrading by firms under varying levels of financial development to derive two predictions. First, the mean rate of quality...
Persistent link: https://www.econbiz.de/10014226112
Persistent link: https://www.econbiz.de/10014320441
Persistent link: https://www.econbiz.de/10013531141
Persistent link: https://www.econbiz.de/10001397354
Persistent link: https://www.econbiz.de/10011418916
We characterize the optimal linear tax on capital in an Overlapping Generations model with two period lived households facing uninsurable idiosyncratic labor income risk. The Ramsey government internalizes the general equilibrium effects of private precautionary saving on factor prices. For...
Persistent link: https://www.econbiz.de/10012062122
The computation of various risk metrics is essential to the quantitative risk management of variable annuity guaranteed benefits. The current market practice of Monte Carlo simulation often requires intensive computations, which can be very costly for insurance companies to implement and take so...
Persistent link: https://www.econbiz.de/10010464782
Persistent link: https://www.econbiz.de/10012200939