Quantitative Economics最新文献_第10页

Fixed‐effects binary choice models with three or more periods 具有三个或更多周期的固定效应二元选择模型

IF 1.8 3区经济学

Quantitative Economics Pub Date : 2020-09-17 DOI: 10.3982/qe1991

L. Davezies, Xavier d'Haultfoeuille, Martin Mugnier

引用次数: 9

Unconditional quantile regression with high‐dimensional data 高维数据的无条件分位数回归

IF 1.8 3区经济学

Quantitative Economics Pub Date : 2020-07-27 DOI: 10.3982/qe1896

Yuya Sasaki, T. Ura, Yichong Zhang

引用次数: 10

Permutation‐based tests for discontinuities in event studies 事件研究中基于排列的不连续检验

IF 1.8 3区经济学

Quantitative Economics Pub Date : 2020-07-20 DOI: 10.3982/qe1775

Federico A. Bugni, Jia Li, Qiyuan Li

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引用次数: 0

Household risk‐sharing channels 家庭风险分担渠道

IF 1.8 3区经济学

Quantitative Economics Pub Date : 2020-07-01 DOI: 10.3982/qe1000

Pierfederico Asdrubali, Simone Tedeschi, L. Ventura

{"title":"Household risk‐sharing channels","authors":"Pierfederico Asdrubali, Simone Tedeschi, L. Ventura","doi":"10.3982/qe1000","DOIUrl":"https://doi.org/10.3982/qe1000","url":null,"abstract":"This paper aims to fill the gaps in the analysis of risk‐sharing channels at the microlevel, both within and across households. Using data from the Bank of Italy's Survey on Household Income and Wealth covering the financial crisis, we are able to quantify in a unified and consistent framework several risk‐sharing mechanisms that so far have been documented separately. We find that Italian households were able to smooth on average about 85% of shocks to household head's earnings in both 2008–2010 and 2010–2012 spells. The most important smoothing mechanisms turn out to be self‐insurance through savings/dissavings (40% and 47% in 2008–2010 and 2010–2012, respectively), and within‐household risk‐sharing (16% and 14%). Interestingly, risk‐sharing through portfolio diversification and private transfers is rather limited, but the overall percentage of shock absorption occurring through private risk‐sharing channels hovers around four‐fifths, as opposed to around one‐fifth of a shock cushioned by taxes and public transfers, excluding pensions. In addition, by exploiting subjective expectations on the following year's household income, we find significant evidence of a lower degree of smoothing of persistent shocks. \u0000 \u0000Household risk‐sharing precautionary savings consumption smoothing income smoothing C31 D12 E21","PeriodicalId":46811,"journal":{"name":"Quantitative Economics","volume":"11 1","pages":"1109-1142"},"PeriodicalIF":1.8,"publicationDate":"2020-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42315108","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 2

Asymmetric information in secondary insurance markets: Evidence from the life settlements market 二级保险市场的信息不对称:来自寿险结算市场的证据

IF 1.8 3区经济学

Quantitative Economics Pub Date : 2020-07-01 DOI: 10.3982/qe1333

Daniel Bauer, Jochen Russ, Nan Zhu

引用次数: 6

Risk aversion in share auctions: Estimating import rents from TRQs in Switzerland 股票拍卖中的风险规避:估计瑞士关税配额的进口租金

IF 1.8 3区经济学

Quantitative Economics Pub Date : 2020-06-08 DOI: 10.2139/SSRN.3397027

Samuel Häfner

引用次数: 1

Group lending, matching patterns, and the mystery of microcredit: Evidence from Thailand 团体借贷、配对模式和小额信贷的奥秘:来自泰国的证据

IF 1.8 3区经济学

Quantitative Economics Pub Date : 2020-05-01 DOI: 10.3982/qe1115

Christian Ahlin

{"title":"Group lending, matching patterns, and the mystery of microcredit: Evidence from Thailand","authors":"Christian Ahlin","doi":"10.3982/qe1115","DOIUrl":"https://doi.org/10.3982/qe1115","url":null,"abstract":"How has the microcredit movement managed to push financial frontiers? Theory shows that if borrowers vary in unobservable risk, then group‐based, joint liability contracts price for risk more accurately than individual contracts, provided that borrowers match with others of similar project riskiness (Ghatak (1999, 2000)). This more accurate risk‐pricing can attract safer borrowers and rouse an otherwise dormant credit market. We extend the theory to include correlated risk, and show that borrowers will match with partners exposed to similar shocks to lower their chances of facing liability for their partners. We use unique data on Thai microcredit borrowing groups to test for homogeneous matching by project riskiness and type of risk exposure. Evidence supports the theory, in that groups are more homogeneous in riskiness but less diversified in type of risk exposure than they would be under random matching. The results suggest that group lending is improving risk‐pricing by embedding a discount for safe borrowers, and can thus explain part of the unprecedented rise in financial intermediation among the world's poor; but that a potential pitfall of voluntary group formation is antidiversification, which points to strategies for lender intervention.","PeriodicalId":46811,"journal":{"name":"Quantitative Economics","volume":"11 1","pages":"713-759"},"PeriodicalIF":1.8,"publicationDate":"2020-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47664358","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 15

Consumption insurance with advance information 消费保险预支信息

IF 1.8 3区经济学

Quantitative Economics Pub Date : 2020-05-01 DOI: 10.3982/qe1169

C. Stoltenberg, Swapnil Singh