We study the effects of an annuity market imperfection on individual agents' labour supply and retirement decisions and …

We study the implications of the corporate debt tax shield in a growth economy that taxes household income and firm … differ in their endowments. Our model predicts that the debt tax shield (1) increases the risk-free rate, (2) leads to a …

This paper provides evidence that domestic opportunities to share risk have contributed to slower growth. We first … provide a simple model economy that demonstrates how a country's ability to diversify risk is linked to its growth rate. In … domestic opportunities to diversify risk and growth. We employ two econometric procedures: (1) traditional instrumental …

growth model to explore the conditions under which an economy is sustainable, considering different types of risk. In general … equilibrium, sustainability boils down to supply-side factors, with increased growth, decreased consumption risk, and greater …, catastrophic risk management, investments in clean and dirty technologies, and the importance of risk-sharing assets …