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Joseph A. Schumpeter is one of the most famous economists of the 20th century and the ’patron saint’ of the finance and growth literature. We have discovered that the prevailing literature has, however, misinterpreted Schumpeter, which leads to puzzling empirical results and difficulties in...
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emphasis put on the too-big-to-fail approach in insurance, i.e. EBA, might be partially missing the underlying nature of … systemic risk in insurance. Not only certain activities, including insurance activities such as life or non-life lines of …
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, a substantial share of annual redistribution might turn out to serve individual insurance in a longer perspective. In …
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, a substantial share of annual redistribution might turn out to serve individual insurance in a longer perspective …
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Insurance companies can be exposed to climate-related physical risk through their operations and to transition risk … life insurance companies in the U.S. We construct a novel physical risk factor by forming a portfolio of P&C insurers …
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In this paper, we introduce a model to study the interaction between insurance and banking. We build on the Federal … Crop Insurance Act of 1980, which significantly expanded and restructured the decades-old federal crop insurance program … our model. Banks increased lending to the agricultural sector in counties with higher insurance coverage after 1980, even …
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