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Following Diamond (1997) and Fecht (2004) we use a model in which financial market access of households restrains the efficiency of the liquidity insurance that banks' deposit contracts provide to households that are subject to idiosyncratic liquidity shocks. But in contrast to these approaches...
Persistent link: https://www.econbiz.de/10003313023
Persistent link: https://www.econbiz.de/10003812513
households' deposits, a high level of household financial market participation might be beneficial. -- financial intermediaries …
Persistent link: https://www.econbiz.de/10002917590
Following Diamond (1997) and Fecht (2004) we use a model in which financial market access of households restrains the efficiency of the liquidity insurance that banks' deposit contracts provide to households that are subject to idiosyncratic liquidity shocks. But in contrast to these approaches...
Persistent link: https://www.econbiz.de/10003079140
asymmetric equilibrium featuring household specialization can arise. Examples where the asymmetric equilibrium is welfare …
Persistent link: https://www.econbiz.de/10013168051
asymmetric equilibrium featuring household specialization can arise. Examples where the asymmetric equilibrium is welfare …
Persistent link: https://www.econbiz.de/10013175695
We study how the presence of promotion competition in the labor market affects household specialization patterns. By … embedding a promotion tournament model in a household setting, we show that specialization can emerge as a consequence of … welfare superior to a situation in which both spouses invest equally in their careers. The reason is that household …
Persistent link: https://www.econbiz.de/10014490253
Persistent link: https://www.econbiz.de/10010360536
We study how risk management through hedging impacts firms and competition among firms in the life insurance industry - an industry with over 7 Trillion in assets and over 1,000 private and public firms. We show that firms that are likely to face costly external finance increase hedging after...
Persistent link: https://www.econbiz.de/10012585845