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Endogenous Policy Leads to Inefficient Risk Sharing

Celentani, Marco; Ignacio Conde-Ruiz, J.; Desmet, Klaus - 2003

We analyze risk sharing and fiscal spending in a two-region model with sequentially complete markets. Fiscal policy is determined by majority voting. When policy setting is decentralized, regions choose pro-cyclical fiscal spending in an attempt to manipulate security prices to their benefit....

Persistent link: https://www.econbiz.de/10014116686

Endogenous policy leads to inefficient risk sharing

Celentani, Marco; Conde-Ruiz, José Ignacio; Desmet, Klaus - 2003

Persistent link: https://www.econbiz.de/10001756721

Endogenous policy leads to inefficient risk-sharing

Celentani, Marco; Conde-Ruiz, José Ignacio; Desmet, Klaus - 2003

Persistent link: https://www.econbiz.de/10001757026

Incomplete interregional risk sharing with complete markets

Celentani, Marco (contributor); … - 2002 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001637698

Endogenous policy leads to inefficient risk sharing

Celentani, Marco; Conde-Ruiz, José Ignacio; Desmet, Klaus - In: Review of economic dynamics 7 (2004) 3, pp. 758-787

Persistent link: https://www.econbiz.de/10002126233

Spanning by frequent trading of long-lived securities

Celentani, Marco - In: Studi economici : rivista quadrimestrale 45 (1991) 3, pp. 59-82

Persistent link: https://www.econbiz.de/10001112419

Reputation with observed actions

Celentani, Marco - In: Economic theory : official journal of the Society for … 7 (1996) 3, pp. 407-419

Persistent link: https://www.econbiz.de/10001200310

La gestión de una cartera de renta fija : conceptos básicos

Alzola Elexpuru, José L. - 1992

Persistent link: https://www.econbiz.de/10000856529

The political economy of international private insurance and fiscal policy

Celentani, Marco; Conde-Ruiz, José Ignacio - 1999

Persistent link: https://www.econbiz.de/10001409683

Corruption and the Hadleyburg effect

Celentani, Marco; Ganuza, Juan-José - 1999

Persistent link: https://www.econbiz.de/10001372007

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