We offer a new explanation of partial risk sharing based on coalition formation and segmentation of society in a risky environment, without assuming limited commitment and imperfect information. Heterogenous individuals ...

When the joint assumption of optimal risk sharing and coincidence of beliefs is added to the collective model of Browning and Chiappori (1998) income pooling and symmetry of the pseudo-Hicksian matrix are shown to be ...

How is aggregate risks optimally shared between workers and retirees? We break this question in two parts. First, how ought risk to be shared between two groups of agents: one which must be provided incentives to make ...

In order to meet the Participant's contribution parity or responsibility for the costing of retirement plan deficits in Complementary Pension Plans, the Risk Sharing concept was introduced by paragraph 87 (d) of Technical ...

We evaluate, in terms of efficiency and selection incentives, four different ex post risk sharing mecha-nisms. Outlier risk sharing (ORS), proportional risk sharing (PRS), risk sharing for high costs (RSHC)and risk sharing ...

We define a country's beta as the covariance of domestic consumption growth with world consumption growth scaled by the world's variance. Beta is related to a country's risk-taking position in models of international ...

Como os choques agregados são otimamente compartilhados entre trabalhadores e aposentados? Em primeiro lugar, como os riscos são compartilhados entre dois grupos de agentes: um que deve ser incentivado a trabalhar e outros, ...