Risk Sharing and the Dynamics of Inequality PDF Download

Author: Ezra Friedman
Publisher:
ISBN:
Category : Risk management
Languages : en
Pages : 56

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Author: Jean Tirole
Publisher: Princeton University Press
ISBN: 1400830222
Category : Business & Economics
Languages : en
Pages : 657

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Book Description
"Magnificent."—The Economist From the Nobel Prize–winning economist, a groundbreaking and comprehensive account of corporate finance Recent decades have seen great theoretical and empirical advances in the field of corporate finance. Whereas once the subject addressed mainly the financing of corporations—equity, debt, and valuation—today it also embraces crucial issues of governance, liquidity, risk management, relationships between banks and corporations, and the macroeconomic impact of corporations. However, this progress has left in its wake a jumbled array of concepts and models that students are often hard put to make sense of. Here, one of the world's leading economists offers a lucid, unified, and comprehensive introduction to modern corporate finance theory. Jean Tirole builds his landmark book around a single model, using an incentive or contract theory approach. Filling a major gap in the field, The Theory of Corporate Finance is an indispensable resource for graduate and advanced undergraduate students as well as researchers of corporate finance, industrial organization, political economy, development, and macroeconomics. Tirole conveys the organizing principles that structure the analysis of today's key management and public policy issues, such as the reform of corporate governance and auditing; the role of private equity, financial markets, and takeovers; the efficient determination of leverage, dividends, liquidity, and risk management; and the design of managerial incentive packages. He weaves empirical studies into the book's theoretical analysis. And he places the corporation in its broader environment, both microeconomic and macroeconomic, and examines the two-way interaction between the corporate environment and institutions. Setting a new milestone in the field, The Theory of Corporate Finance will be the authoritative text for years to come.

Author: H.J. Bremmers
Publisher: BRILL
ISBN: 9086865267
Category : Business & Economics
Languages : en
Pages : 630

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Book Description
"Companies in food- and agribusiness chains and networks are facing ever-faster changes in the business environment, to which they must respond through continuous innovation. Societal concerns regarding animal welfare and environmental issues have to be met in a very competitive, increasingly global environment. The growing concern of consumers regarding the quality, traceability and environmental friendliness of products and processes call for fundamentally new ways of developing, producing and marketing products. New ways of organizing food supply networks, with new ties between firms and even between formerly separate sectors -such as the health and the food sector- are needed to cope with these new demands. This publication focusses on the dynamic response to these changes in chains and networks. Important topics include among others: critical success factors for design and control of innovative chains and networks, globalization of the business environment, effects of institutional and policy change, governance structures, technologies for managing interaction and design of information architectures for chains and networks."

Author: Franklin Allen
Publisher: MIT Press
ISBN: 9780262011778
Category : Business & Economics
Languages : en
Pages : 524

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Why do different countries have such different financial systems? Is one system better than the other? This text argues that the view that market-based systems are best is simplistic, and suggests that a more nuanced approach is necessary.

Author: Jaroslav Zajac
Publisher: Springer Science & Business Media
ISBN: 3540326952
Category : Business & Economics
Languages : en
Pages : 274

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Book Description
This book analyzes the existence of equilibria in economies having a measured space of agents and a continuum of agents and commodities. Excessive homogeneity with respect to agent productivity leads to instability and non-uniqueness of a given stationary state and the indeterminacy of the corresponding stationary state equilibrium. Sufficient heterogeneity leads to global saddle-path stability, uniqueness of a given stationary state and the global uniqueness of the corresponding equilibrium.

Author: Jean-OIiver Hairault
Publisher: Routledge
ISBN: 1134426127
Category : Business & Economics
Languages : en
Pages : 446

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Book Description
This important new book builds upon the seminal work by Obsfeld and Rogoff, Foundations of International Macroeconomics and aims at providing a coherent and modern framework for thinking about exchange rate dynamics. With a wide range of contributions, this book is likely to be welcomed by the macroeconomics and financial community.

Author: Truman Packard
Publisher: Human Development Perspectives
ISBN: 9781464814273
Category : Business & Economics
Languages : en
Pages : 0

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"This white paper focusses on the policy interventions made to help people manage risk, uncertainty and the losses from events whose impacts are channeled primarily through the labor market. The objectives of the white paper are: to scrutinize the relevance and effects of prevailing risk-sharing policies in low- and middle-income countries; take account of how global drivers of disruption shape and diversify how people work; in light of this diversity, propose alternative risk-sharing policies, or ways to augment and improve current policies to be more relevant and responsive to peoples' needs; and map a reasonable transition path from the current to an alternative policy approach that substantially extends protection to a greater portion of working people and their families. This white paper is a contribution to the broader, global discussion of the changing nature of work and how policy can shape its implications for the wellbeing of people. We use the term risk-sharing policies broadly in reference to the set of institutions, regulations and interventions that societies put in place to help households manage shocks to their livelihoods. These policies include formal rules and structures that regulate market interactions (worker protections and other labor market institutions) that help people pool risks (social assistance and social insurance), to save and insure affordably and effectively (mandatory and incentivized individual savings and other financial instruments) and to recover from losses in the wake of livelihood shocks ('active' reemployment measures). Effective risk-sharing policies are foundational to building equity, resilience and opportunity, the strategic objectives of the World Bank's Social Protection and Jobs Global Practice. Given failures of factor markets and the market for risk in particular the rationale for policy intervention to augment the options that people have to manage shocks to their livelihoods is well-understood and accepted. By helping to prevent vulnerable people from falling into poverty --and people in the poorest households from falling deeper into poverty-- effective risk-sharing interventions dramatically reduce poverty. Households and communities with access to effective risk-sharing instruments can better maintain and continue to invest in these vital assets, first and foremost, their human capital, and in doing so can reduce the likelihood that poverty and vulnerability will be transmitted from one generation to the next. Risk-sharing policies foster enterprise and development by ensuring that people can take appropriate risks required to grasp opportunities and secure their stake in a growing economy."--

Author: Peng Li
Publisher:
ISBN:
Category :
Languages : en
Pages : 302

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Author: Jaime A. Londoño
Publisher: Springer
ISBN: 3319665367
Category : Business & Economics
Languages : en
Pages : 177

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Book Description
Developed from the Second International Congress on Actuarial Science and Quantitative Finance, this volume showcases the latest progress in all theoretical and empirical aspects of actuarial science and quantitative finance. Held at the Universidad de Cartagena in Cartegena, Colombia in June 2016, the conference emphasized relations between industry and academia and provided a platform for practitioners to discuss problems arising from the financial and insurance industries in the Andean and Caribbean regions. Based on invited lectures as well as carefully selected papers, these proceedings address topics such as statistical techniques in finance and actuarial science, portfolio management, risk theory, derivative valuation and economics of insurance.

Author: Georges Dionne
Publisher: Springer Science & Business Media
ISBN: 9401006423
Category : Business & Economics
Languages : en
Pages : 980

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Book Description
In the 1970's, the research agenda in insurance was dominated by optimal insurance coverage, security design, and equilibrium under conditions of imperfect information. The 1980's saw a growth of theoretical developments including non-expected utility, price volatility, retention capacity, the pricing and design of insurance contracts in the presence of multiple risks, and the liability insurance crisis. The empirical study of information problems, financial derivatives, and large losses due to catastrophic events dominated the research agenda in the 1990's. The Handbook of Insurance provides a single reference source on insurance for professors, researchers, graduate students, regulators, consultants, and practitioners, that reviews the research developments in insurance and its related fields that have occurred over the last thirty years. The book starts with the history and foundations of insurance theory and moves on to review asymmetric information, risk management and insurance pricing, and the industrial organization of insurance markets. The book ends with life insurance, pensions, and economic security. Each chapter has been written by a leading authority in insurance, all contributions have been peer reviewed, and each chapter can be read independently of the others.