Showing 1 - 10 of 12,784
Persistent link: https://www.econbiz.de/10000865466
given period, after having observed her income, the agent can walk away from the contract, while the intermediary cannot, i … intermediaries. Insurance can be provided because in an equilibrium contract an up-front payment effectively locks in the agent with … an intermediary. We then show that our contract economy is equivalent to a consumption-savings economy with one …
Persistent link: https://www.econbiz.de/10012468559
Persistent link: https://www.econbiz.de/10011941350
Persistent link: https://www.econbiz.de/10009504182
reviewed here and is shown to cast new light on some of the central claims of legal origins theory. Legal origins are shown to …
Persistent link: https://www.econbiz.de/10013146144
Persistent link: https://www.econbiz.de/10014282104
Contracts serve an important function: allocation of risks. In achieving this function, contractual parties routinely include a force majeure clause in their contracts to be excused from performance in the face of a supervening event. But what events qualify to excuse performance and how have...
Persistent link: https://www.econbiz.de/10013240680
Persistent link: https://www.econbiz.de/10013396176
In this paper we study the zero frequency spectral properties of fractionally cointegrated long memory processes and introduce a new frequency domain principal components estimator of the cointegration space and the factor loading matrix for the long memory factors. We find that for fractionally...
Persistent link: https://www.econbiz.de/10009636544