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作者：Ludvigson, S; Paxson, CH
作者单位：Federal Reserve System - USA; Federal Reserve Bank - New York; Princeton University
摘要：A wide range of empirical applications rely on linear approximations to dynamic Euler equations. Among the most notable of these is the large and growing literature on precautionary saving that examines how consumption growth and saving behavior are affected by uncertainty and prudence. Linear approximations to Euler equations imply a linear relationship between expected consumption growth and uncertainty in consumption growth, with a slope coefficient that is a function of the coefficient of ...
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作者：Viscusi, WK; Hersch, J
作者单位：Harvard University
摘要：Using a large data set, the authors find that smokers select riskier jobs, but receive lower total wage compensation for risk than do nonsmokers. This finding is inconsistent with conventional models of compensating differentials. The authors develop a model in which worker risk preferences and job safety performance lead to smokers facing a flatter market offer curve than nonsmokers. The empirical results support the theoretical model. Smokers are injured more often controlling for their job'...
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作者：Dionne, G; Gagné, R
作者单位：Universite de Montreal; HEC Montreal; Universite de Montreal
摘要：Insurance fraud is now recognized as a significant resource-allocation problem in many markets. The object of this study is to verify how straight deductible contracts may affect the equilibrium level of falsification in automobile insurance. This type of contract is observed in many markets, even if it is not optimal under costly state falsification. A higher deductible may create incentives to fraud or cheat, particularly when the insured anticipates that the claim has a small probability of...
