This paper is concerned with the effects of regulations that prohibit the use of information to risk-rate premiums in a life insurance market. In particular, new information derived from genetic tests is likely to become very relevant in the near to medium term future. Many governments have...

We analyse the effects of regulations prohibiting the use of information to risk-rate premiums in a life insurance market. New information derived from genetic tests is likely to become increasingly relevant in the future. Many governments prohibit the use of this information, thereby generating...

We show that the standard Value Function Iteration (VFI) algorithm has difficulties approximating models with jump discontinuities in policy functions. We find that VFI fails to accurately identify the location and size of jump discontinuities while other methods - such as the Endogenous Grid...

This paper investigates regulations for banks that covered by deposit insurance in a dynamic setting where bankruptcy entails social costs. Regulatory policy operates through rules governing the bank's capital structure and asset allocation that may be adjusted each period. Throughout, the...

This paper shows that rural electrification is associated with big changes in the time use of men and women in Nicaragua, even in the absence of labor-saving appliances. Electricity is shown to increase the propensity of rural Nicaraguan women to work outside the home by about 23%, but to have...