We document a strong effect of pension and insurance company (P&I) assets on the long end of the yield curve. Using … ratio of pension assets (in funded and private pension and life insurance arrangements) to GDP, suggesting that preferred …-habitat demand by the P&I sector for long-dated assets drives the long end of the yield curve. We draw on changes in regulations in …

of insurance. Third, we help answer the puzzle why the most risk averse are least likely to take up agricultural …

This paper examines how cooperation in an insurance game depends on risk preferences and the riskiness of income. It … of the discount factor above which perfect risk sharing is self-enforcing. When agents face no aggregate risk, there is … of idiosyncratic and aggregate risk. In the case of exponential (isoelastic) utility, cooperation depends positively on …