In currency crises, unlike in orderly devaluations, the financial markets dominateevents. It is shown that currency collapses (crises followed by depreciations) have hada much greater adverse impact in emerging markets (defined as relatively highincomedeveloping countries exposed to...

[...]This article evaluates the short-term economic consequencesof the attack on Manhattan and the four other boroughsthat make up New York City. We begin with the deepest loss—that of human lives. We then look at the effects of the attack onthe inputs to the production process: labor and...

Over the last decade, there has been growing attention to the issue of neighbourhood governance and community participation in China. The focus has been on the extent to which community involvement in rule-making and decision-making processes could be promoted. The issue of community...

The endowment effect, which is well documented in the contingent valuationliterature, alters people’s preferences according to a reference point established in theelicitation question...

The majority of optimal Bonus-Malus Systems (BMS) presented up to now in the actuarial literature assign to each policyholder a premium based on the number of his accidents...

The aim of this work is to present a method to compute the expected amount of annual claims in the health insurance. We will be especially concerned with the permanent health insurance and compare our numerical results with those computed and published for the permanent health insurance in...

Climate change is one of the greatest challenges facing our planet in the foreseeable future anddespite the urgency of the situation global GHG emissions are still increasing. In this context,and since future climate changes appear now unavoidable to some extent, adaptation measureshave recently...

[...]The final force of change is the continual evolution of thedelivery channels through which financial services are offered.This has occurred in many ways and in several stages. First, theuse of postal services substituted for physical market presence;this was followed by increased use of...