VAR models and sheds some light on the two major problems generated by such implementation. The first aspect to be taken …

By placing store-level price data into bivariate Structural VAR models of inflation and relative price asymmetry, this …. Robustly to alternative definitions of the relative price, identification schemes dictated by two-sided (S,s) pricing theory …

We use a Vector Auto Regression (VAR) analysis to explore the (spill-over) effects of fiscal policy shocks in Europe …. Here, we employ identification based on Choleski decomposition and a structural VAR, both of which lead to the same results …

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 …