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In the study, an expected revenue model was built for the farmers and insurance institutes in China, with the aim of researching the realization conditions of the target price insurance market equilib...
We study whether employer premium contribution schemes could impact the pricing behavior of health plans and contribute to rising premiums. Using 1991-2011 data before and after a 1999 premium subsid...
An economy populated by a representative agent with power utility predicts an equity premium which is far below the realized equity premium in postwar data, at least for “reasonable parameters” for ...
contribution to monetary DSGE literature ⇒ Epstein Zin utility with high risk aversion (improves asset pricing) can still match volatility of macro aggregates same spirit as Tallarini (2000,...
We estimate the effect of information and expertise on consumers’ willingness to pay for national brands in physically homogeneous product categories. In a detailed case study of headache remedies we...
Although the majority of health-care spending in the United States is funneled through the private health insurance industry, few researchers have examined whether the industry itself is contributing ...
European global banks intermediating US dollar funds are important in influencing credit conditions in the United States. US dollar-denominated assets of banks outside the US are comparable in size to...
Valuing a firm using the discounted cash flow method (DCF) requires the joint determination of the market value of its equity (MVE) together with the equity risk premium (ERP) the firm should earn, si...
The article explores the economic impact of the cost of managing complex chronic care on family quality of life and patient's clinical outcomes in the U.S. It notes that the non-reimbursed expenditure...
To assess the effects of transitions from private to public health insurance by children on out-of-pocket medical expenditures and health insurance premium costs. Data are drawn from the 1996 and 2001...
The existence of the pricing kernel is shown to imply the existence of an ambient information process that generates market filtration. This information process consists of a signal component concerni...
Limited liability creates a conflict of interests between policyholders and shareholders of insurance companies. It provides shareholders with incentives to increase the risk of the insurer's assets a...
The traditional textbook method of calculating a corporation’s cost of debt capital tends to minimize the practical process used to arrive at that cost. This is particularly true if the corporation h...
This paper examines asset prices when risk-sharing externalities are incorporated into an infinite-horizon model where consumers are exposed to the endogenous income risks. It is shown that there exis...

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