Sovereign Insurance and Program Design : What is Optimal for the Sovereign?

What is Optimal for the Sovereign?

Sovereign Insurance and Program Design : What is Optimal for the Sovereign?
The design of the optimal sovereign insurance contract is analyzed when: the sovereign chooses the contract; effort is not contractible; shocks are of uncertain magnitude; the sovereign can save; and the sovereign can default. Under these conditions: i) an ex ante premium leads to higher coverage; ii) the premium increases with the sovereign's... READ MORE...

Publication date: March 2006
ISBN 9781451863246
$15.00

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