principals': affecting the principals' efforts in monitoring the agents by making them perceive the risk of fraud as more or less … likely. Due to several cognitive biases discussed in this article, principals misperceive the risk of fraud by their agents … that is itself cyclical and may exacerbate the biased perception of the risk of fraud. Monetary policy is analogous in …

on how risk exposure and income are related to preferences for redistribution. To test our hypotheses, we extract … detailed risk exposure measures from labor force surveys and marry them to cross-national survey data. In a second step, we …

This paper analyses the political constraints of intergenerational risk sharing. The first result is that the political … PAYG still contributes to intergenerational risk sharing. The third result is that aging increases the discrepancy between …

, we argue that any serious scholar concerned with the plight of the poor needs to address the theory and evidence …

different cases, we conclude that the political force of the decentralization-theorem (Oates) is a sole and inverse function of …