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We study the interaction between a government's bailout policy and banks' willingness to impose losses on (or \bail in") their investors. The government has limited commitment and may choose to bail out banks facing large losses. The anticipation of this bailout undermines a bank's private...
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We address the question of how the internal organization of partnerships can be affected by moral hazard behavior of their division(s)/agent(s). We explore cases where two entregreneurs, each employing one agent subject ot moral hazard, decide how to conduct a research project together. The...
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provisions of disability insurance programs? Here we first consider changes in mortality over time and in particular the … relationship between mortality and labor force participation, thinking of mortality as one indicator of health that is comparable … across countries and over time in the same country. We then consider how mortality is related to other indicators of health …
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Substantial research attention has been devoted to the pension accumulation process, whereby employees and those advising them work to accumulate funds for retirement. Until recently, less analysis has been devoted to the pension decumulation process -- the process by which retirees finance...
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in mortality over time and in particular the relationship between mortality and labor force participation, thinking of … mortality as one indicator of health that is comparable across countries and over time in the same country. We then consider how … mortality is related to other indicators of health status, in particular self-assessed health and then how trends in DI …
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