| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP12855 |
| DP12855 Financing Insurance | |
| Adriano A. Rampini; S. Viswanathan | |
| 发表日期 | 2018-04-09 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | Insurance has an intertemporal aspect as insurance premia have to be paid up front. We argue that the financing of insurance is key to understanding basic insurance patterns and insurers' balance sheets. Limited enforcement implies that insurance is globally monotone increasing in household net worth and income, incomplete, and precautionary. These results hold in economies with income risk, durable goods and collateral constraints, and durable goods price risk, under quite general conditions. In equilibrium, insurers are financial intermediaries with collateralized loans as assets and diversified portfolios of insurance claims as liabilities. Collateral scarcity lowers the interest rate, reduces insurance, and increases inequality. |
| 主题 | Development Economics ; Financial Economics ; Macroeconomics and Growth |
| 关键词 | Household finance Collateral Insurance Risk management Financial constraints |
| URL | https://cepr.org/publications/dp12855-0 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/541666 |
| 推荐引用方式 GB/T 7714 | Adriano A. Rampini,S. Viswanathan. DP12855 Financing Insurance. 2018. |
| 条目包含的文件 | 条目无相关文件。 | |||||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
