Die Untersuchung des Jahres 1991 befaßt sich mit der Einkommenssituation der selbständigen Künstler und Publizisten zu Beginn der neunziger Jahre. Die wirtschaftliche Situation der Künstler, die auch im langanhaltenden Aufschwung der achtziger Jahre in vielen Fällen unzureichend war, gerät...

This paper explores empirically the link between French equities returns Value-at-Risk (VaR) and the state of financial markets cycle. The econometric analysis is based on a simple vector autoregression setup. Using quarterly data from 1970Q4 to 2008Q3, it turns out that the k-year VaR of French...

I study the welfare cost of business cycles in a complete-markets economy where some people are more risk averse than others. Relatively more risk-averse people buy insurance against aggregate risk, and relatively less risk-averse people sell insurance. These trades reduce the welfare cost of...

I study the welfare cost of business cycles in a complete-markets economy where some people are more risk averse than others. Relatively more risk-averse people buy insurance against aggregate risk, and relatively less risk-averse people sell insurance. These trades reduce the welfare cost of...