Equilibrium in risk-sharing games
Sign Up to like & getrecommendations! Published in 2017 at "Finance and Stochastics"
DOI: 10.1007/s00780-017-0323-9
Abstract: The large majority of risk-sharing transactions involve few agents, each of whom can heavily influence the structure and the prices of securities. In this paper, we propose a game where agents’ strategic sets consist of… read more here.
Keywords: risk sharing; equilibrium risk; risk; finance ... See more keywords
Risk Reduction, Risk Sharing and Moral Hazard: A Vaccination Metaphor
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DOI: 10.1007/s10272-017-0665-8
Abstract: This paper focuses on unemployment insurance; it sketches the rationale for a degree of centralisation that would create a lean insurance union, addressing the risk of large economic shocks. read more here.
Keywords: risk sharing; risk; moral hazard; risk reduction ... See more keywords
Estimating Non-stationary Common Factors: Implications for Risk Sharing
Sign Up to like & getrecommendations! Published in 2018 at "Computational Economics"
DOI: 10.1007/s10614-018-9875-9
Abstract: In this paper, we analyze and compare the finite sample properties of alternative factor extraction procedures in the context of non-stationary Dynamic Factor Models (DFMs). On top of considering procedures already available in the literature,… read more here.
Keywords: risk sharing; factors implications; stationary common; estimating non ... See more keywords
Private and public risk sharing in the euro area
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DOI: 10.1016/j.euroecorev.2019.103347
Abstract: This paper investigates the contribution of private and public channels for consumption risk sharing in the euro area. In particular, it explores the role of financial integration versus official financial assistance for consumption smoothing. In… read more here.
Keywords: risk sharing; sharing euro; euro area; private public ... See more keywords
Systemic risk-sharing framework of cryptocurrencies in the COVID–19 crisis
Sign Up to like & getrecommendations! Published in 2022 at "Finance Research Letters"
DOI: 10.1016/j.frl.2022.102787
Abstract: We use the Conditional Value-at-Risk (CoVaR) model to develop the systemic contagion index (SCI) for cryptocurrencies and examine their spillover effects. The SCI exhibits the highest value during the COVID–19 period, indicating evidence of pandemic-driven… read more here.
Keywords: risk; risk sharing; framework cryptocurrencies; systemic risk ... See more keywords
Optimal investment strategies and risk-sharing arrangements for a hybrid pension plan
Sign Up to like & getrecommendations! Published in 2019 at "Insurance: Mathematics and Economics"
DOI: 10.1016/j.insmatheco.2019.09.005
Abstract: Abstract A continuous time stochastic model is used to study a hybrid pension plan, where both the contribution and benefit levels are adjusted depending on the performance of the plan, with risk sharing between different… read more here.
Keywords: pension; risk sharing; hybrid pension; pension plan ... See more keywords
Risk-sharing, market imperfections, asset prices: Evidence from China’s stock market liberalization
Sign Up to like & getrecommendations! Published in 2017 at "Journal of Banking and Finance"
DOI: 10.1016/j.jbankfin.2017.06.003
Abstract: We examine the roles of risk-sharing and other factors in stock price revaluation during a recent liberalization episode in China. Consistent with the theoretical prediction that liberalizations reduce systematic risk, we find that risk-sharing explains… read more here.
Keywords: risk sharing; liberalization; market; sharing market ... See more keywords
Risk sharing, efficiency of capital allocation, and the connection between banks and the real economy
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DOI: 10.1016/j.jcorpfin.2019.101538
Abstract: Abstract We propose a measure of the extent to which a financial institution is connected to the real economy. The Share of Core Assets (SCA) is a measure of the composition of assets – namely,… read more here.
Keywords: risk sharing; capital allocation; real economy; efficiency capital ... See more keywords
The new risk-sharing paradigm in rare cancers: Patient perspective
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DOI: 10.1016/j.jcpo.2017.03.007
Abstract: Abstract Advances in understanding the biology of rare cancers and in genomic technologies are reshaping drug development and are fostering patients' hopes because an increasing number of drugs are expected to be made available. However,… read more here.
Keywords: risk sharing; new risk; rare cancers; sharing paradigm ... See more keywords
Inferring informal risk-sharing regimes: Evidence from rural Tanzania
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DOI: 10.1016/j.jebo.2020.06.002
Abstract: This paper studies informal risk-sharing regimes in a unified framework by examining intertemporal consumption behavior of rural households in Tanzania. We exploit a theoretically-consistent link between interest rates and cross-sectional consumption moments to test alternative… read more here.
Keywords: sharing regimes; rural tanzania; risk sharing; risk ... See more keywords
Risk-sharing in the context of fishery mutual insurance: Learning from China
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DOI: 10.1016/j.marpol.2020.104191
Abstract: Although China remains the largest producer in the fishery industry worldwide, it faces substantial personal injuries and economic losses created by this sector. Considering insurance is a mechanism that potentially could deal with fishery-related losses,… read more here.
Keywords: risk sharing; mutual insurance; fishery; insurance ... See more keywords