decision problem of using self-governance for risk sharing or governance through enforcement provided by these institutions … prevent first-best risk sharing, but never optimal to provide incentives exclusively via this technology. Commitment problems …

international equity transactions that accentuate the role of international risk sharing as a factor for the macroeconomic response … shock affecting only one country. Efficient global risk-sharing imply that expected productivity gains in one country will … for the productivity gains can further increase the risk exposure of foreign shareholders. The model is calibrated to show …

When people share risk in financial markets, intermediaries provide costly enforcement for most trades and, hence, are … an integral part of financial marketsu0092 organization. We assess the degree of risk sharing that can be achieved … allow for optimal risk sharing as long as markets are complete, default is prevented in equilibrium and intermediaries …

This country report identifies and outlines regulation on liability in subcontracting processes in Spain. It is based … ‘joint and several liability’ in subcontracting have been developed. Joint and several liability refers to cases where two or …

This country report identifies and outlines regulation on liability in subcontracting processes in the Netherlands. It … on ‘joint and several liability’ in subcontracting have been developed. Joint and several liability refers to cases where …

This country report identifies and outlines regulation on liability in subcontracting processes in Austria. It is based … ‘joint and several liability’ in subcontracting have been developed. Joint and several liability refers to cases where two or …

Third party liability has been identified as an issue that could adversely impact the European security industry …. Limitless third party liability for security product and services is believed to have the potential to reduce investments in … to provide protection against liability exposure. This development has convinced the EU to examine the legal implications …