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Jacobs, Thomas A. - 2010

The financial crisis of 2007-2008 led to extraordinary government intervention in firms and markets. The scope and depth of government action rivaled that of the Great Depression. Many traded markets experienced dramatic declines in liquidity leading to the existence of conditions normally...

Persistent link: https://www.econbiz.de/10009477864

14.661 Labor Economics I, Fall 2006

Pischke, Jorn-Steffen; Angrist, Joshua - 2006

Neoclassical analysis of the labor market and its institutions. A systematic development of the theory of labor supply …

Persistent link: https://www.econbiz.de/10009432547

An Analysis of the Medicare Prescription Drug Benefit

Claudio, Lucarelli - 2006

Medicare has recently experienced the largest expansion of benefits since its in- ception: the inclusion of prescription drug coverage under the Medicare Prescription Drug, Improvement and Modernization Act of 2003. The policy debate has mainly focused on estimating the cost of implementing the...

Persistent link: https://www.econbiz.de/10009438528

Essays on Adverse Selection and Moral Hazard in Insurance Market

Wen, Jian - 2010

Essay One examines the asymmetric information problem between primary insurers and reinsurers in the reinsurance industry and contributes uniquely to the separation of adverse selection from moral hazard, if both are present. A two-period principal-agent model is set up to identify the signals...

Persistent link: https://www.econbiz.de/10009463407

Reinsurance Contracting with Adverse Selection and Moral Hazard: Theory and Evidence

Yan, Zhiqiang - 2009

This dissertation includes two essays on adverse selection and moral hazard problems in reinsurance markets. The first essay builds a competitive principal-agent model that considers adverse selection and moral hazard jointly, and characterizes graphically various forms of separating Nash...

Persistent link: https://www.econbiz.de/10009463429

Determinants of Convertible Bond Structure;

Krishnaswami, Sudha; Yaman, Devrim - 2005

Theoretical research argues that convertible bonds mitigate the contracting costs of moral hazard, adverseselection, and financial distress. Using firm-specific and macroeconomic factors of the contracting costs,we examine the extent to which they impact the likelihood of issuance and the...

Persistent link: https://www.econbiz.de/10009468586

Contracting Costs and the Window of Opportunity for Straight Debt Issues;

Krishnaswami, Sudha; Yaman, Devrim - 2005

We analyze whether fluctuation in economy-wide factors cause time-series variation in thecontracting costs of moral hazard, adverse selection, and financial distress, and so create windows ofopportunity for firms to issue debt. Using the announcement period abnormal returns as one measure of...

Persistent link: https://www.econbiz.de/10009468589

Monitoring or moral hazard? Evidence from real activities manipulation by venture-backed companies.

Liu, Xiang - 2009

monitoring and restraining managers' earnings management behavior. The VC moral hazard hypothesis argues that VCs aggravate the … private benefits agency problem by exerting influence over managers to artificially inflate exit stock price through earnings … monitoring hypothesis that VCs restrain managers' RM behavior. Furthermore, I document that venture-backed companies exhibit a …

Persistent link: https://www.econbiz.de/10009475038

Three Essays in Health Insurance Coverage.

Rutledge, Matthew S. - 2010

Obtaining health insurance through an employer pools risk, but may lead to moral hazard, where employees with more coverage seek care valued below cost, and adverse selection, where the unhealthy choose more generous plans, driving up premiums. In the first essay, I model the decision to choose...

Persistent link: https://www.econbiz.de/10009476816

Evrensel, Ayse Y.; Kutan, Ali M. - 2004

Previous tests of creditor moral hazard cannot distinguish between two types of investor behavior: expectations of implicit guarantees or better future economic fundamentals due to a prospective IMF program. The novelty of our approach lies in the inclusion of the forward foreign exchange rate...

Persistent link: https://www.econbiz.de/10009477031