Showing 1 - 10 of 30
This paper examines the extent to which consumption in Russian households responds to exogenous income shocks. During the time period studied in this paper (1994 - 1998), Russia experienced two major economic crises. Both featured extreme movements in the real ruble-dollar exchange rate. The...
Persistent link: https://www.econbiz.de/10009477527
Economic theory predicts that individuals exposed to the risk of losing their job postpone their consumption and accumulate more assets to build a buffer stock of saving. We provide a new test of the hypothesis using substantial variation in severance payments across contracts in the Spanish...
Persistent link: https://www.econbiz.de/10012530288
Las familias de buena parte de los países desarrollados venían aumentando su endeudamiento desde los años ochenta, y este proceso se aceleró significativamente en los años previos a la Gran Recesión. Al mismo tiempo, durante ese periodo se produjo una disminución de su tasa de ahorro....
Persistent link: https://www.econbiz.de/10012530441
that parimutuel insurance intrinsically leads to participants being underinsured due to basis risk. Although participants … will be underinsured, parimutuel insurance guarantees no underlying risk borne by the issuer. We also derive the equivalent … transaction costs of traditional insurance relative to HuRLOs. The actual transaction cost for traditional insurance is found to …
Persistent link: https://www.econbiz.de/10009439051
This half-semester course discusses decision theory and topics in game theory. We present models of individual decision-making under certainty and uncertainty. Topics include preference orderings, expected utility, risk, stochastic dominance, supermodularity, monotone comparative statics,...
Persistent link: https://www.econbiz.de/10009432546
increased risk as perceived by utilities, banks and lessors and the unpredictability of those risks as perceived by insurance … higher rate of return obtaining insurance; or some combination of DOE loan guarantee, lease and insurance. No attempt has …
Persistent link: https://www.econbiz.de/10009435415
Today's insurance industry strongly emphasizes developing cost-effective hazard mitigation programs, increasing and … the Insurance Industry.'' Presentations were made by insurance company representatives, insurance trade groups, government … discuss how energy efficiency and renewable technologies can contribute to reducing insurance losses. …
Persistent link: https://www.econbiz.de/10009435566
The following subjects are included: a geothermal resource overview, the evolution of the current Texas geopressured-geothermal institutional structure, project evaluation with uncertainty and the structure of incentives, the natural gas industry, the electric utility industry, potential...
Persistent link: https://www.econbiz.de/10009435830
cleanrooms, which is a cross-cutting market segment known to have high reliability requirements. Finally, we present insurance …
Persistent link: https://www.econbiz.de/10009436254
in the cost of non-renewable energy (NRE), and the option or insurance value of deploying RE if and when NRE costs rise …-making process. An illustrative example indicates how options expose both the insurance and timing values inherent in a simplified RE …
Persistent link: https://www.econbiz.de/10009436430