theoretical as well as the quantitative analysis, recommendations are derived for a better allocation of the reduction burden …

This paper examines the optimal allocation of risk in an overlapping-generations economy It compares the allocation of … risk the economy reaches naturally to the allocation that would be reached if generations behind a Rawlsian 'veil of … ignorance' could share risk with one another through complete Arrow-Debreu contingent-claims markets The paper then examines how …

. This paper aims to resolve a part of the opaqueness surrounding credit-risk allocation to tranches that represent claims of … different seniority on a reference portfolio. In particular, this paper analyzes the allocation of credit risk to different … risk in CDO transactions. We propose a metric for capturing the allocation of systematic risk to tranches. First, in …

This paper shows that the value function describing efficient risk sharing with limited commitment is not necessarily …

. This paper aims to resolve a part of the opaqueness surrounding credit-risk allocation to tranches that represent claims of … different seniority on a reference portfolio. In particular, this paper analyzes the allocation of credit risk to different … risk in CDO transactions. We propose a metric for capturing the allocation of systematic risk to tranches. First, in …

workers are risk averse but workers more so. Wages are given or partially indexed in the short run, and capital markets are … imperfect. The government sets the exchange rate to allocate risk between workers and owners. With less risk-averse firms, and … greater difference in risk aversion between workers and firms, the optimal exchange rate should vary little with pure terms …

affected people's prospect-theory risk preferences, especially in the loss domain. The panel analysis indicates that with the …

This paper discusses methods to quantify risk and uncertainty in macroeconomic forecasts. Both, parametric and non … macroeconometric model of the Bundesbank for Germany. Forecast intervals that integrate judgement on risk and uncertainty are obtained. …

exogenous risk and delegation. That is, we show that only if exogenous risk is sufficiently large, the risk-neutral principal … may prefer to delegate authority over decisions to the risk-averse agent. Intuitively, for incentive reasons, the … principal may optimally want to allow the agent to reduce his risk exposure. Nevertheless, even endogenous risk may be higher …