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Nonlinear persistence and partial insurance : income and consumption dynamics in the PSID

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Efficiency of insurance firms with endogenous risk management and financial intermediation activities

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Efficiency of Insurance Firms with Endogenous Risk Management and Financial Intermediation Activities

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Competitive Risk Sharing Contracts with One-Sided Commitment

Krueger, Dirk - 2003

autarky, but also partial and full insurance can obtain, depending on the relative patience of agents and financial … intermediaries. Insurance can be provided because in an equilibrium contract an up-front payment effectively locks in the agent with …

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