Coalition-Proof Risk Sharing Under Frictions

2020 ◽  
Author(s):  
Harold L. Cole ◽  
Dirk Krueger ◽  
George J. Mailath ◽  
Yena Park
Keyword(s):  
Risk Sharing ◽  
Coalition Proof

scholarly journals Coalition-Proof Risk Sharing Under Frictions

2020 ◽  
Author(s):  
Harold Cole ◽  
Dirk Krueger ◽  
George Mailath ◽  
Yena Park
Keyword(s):  
Risk Sharing ◽  
Coalition Proof

Culture and Risk Sharing Networks

2013 ◽  
Author(s):  
Joanne Laban
Keyword(s):  
Risk Sharing

Protecting All: Risk Sharing for a Diverse and Diversifying World of Work

2019 ◽  
Author(s):  
Truman Packard ◽  
Ugo Gentilini ◽  
Margaret Grosh ◽  
Philip O’Keefe ◽  
Robert Palacios ◽  
...  
Keyword(s):  
Risk Sharing

Lending to the Borrower from Hell

2017 ◽  
Author(s):  
Mauricio Drelichman ◽  
Hans-Joachim Voth
Keyword(s):  
United States ◽  
Sixteenth Century ◽  
Sovereign Debt ◽  
Risk Sharing ◽  
The United States ◽  
Philip Ii ◽  
Loan Contracts ◽  
The Right ◽  
Intelligent Model ◽  
New Evidence

Why do lenders time and again loan money to sovereign borrowers who promptly go bankrupt? When can this type of lending work? As the United States and many European nations struggle with mountains of debt, historical precedents can offer valuable insights. This book looks at one famous case—the debts and defaults of Philip II of Spain. Ruling over one of the largest and most powerful empires in history, King Philip defaulted four times. Yet he never lost access to capital markets and could borrow again within a year or two of each default. Exploring the shrewd reasoning of the lenders who continued to offer money, the book analyzes the lessons from this historical example. Using detailed new evidence collected from sixteenth-century archives, the book examines the incentives and returns of lenders. It provides powerful evidence that in the right situations, lenders not only survive despite defaults—they thrive. It also demonstrates that debt markets cope well, despite massive fluctuations in expenditure and revenue, when lending functions like insurance. The book unearths unique sixteenth-century loan contracts that offered highly effective risk sharing between the king and his lenders, with payment obligations reduced in bad times. A fascinating story of finance and empire, this book offers an intelligent model for keeping economies safe in times of sovereign debt crises and defaults.

Risk Sharing and the Theory of Optimal Currency Areas: A Re-Examination of Mundell 1973

2000 ◽  
Author(s):  
Stephen Tang-Foon Ching ◽  
Michael B. Devereux
Keyword(s):  
Risk Sharing ◽  
Optimal Currency Areas

Information vs. Risk-Sharing: Trading and Home Bias

2009 ◽  
Author(s):  
Xi Dong
Keyword(s):  
Risk Sharing ◽  
Home Bias

Information Disclosure, Intertemporal Risk Sharing, and Stock Prices

2009 ◽  
Author(s):  
Tri Vi Dang ◽  
Hendrik Hakenes
Keyword(s):  
Stock Prices ◽  
Information Disclosure ◽  
Risk Sharing
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