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The allocation formula for the distribution of the Common Consolidated Corporate Tax Base (CCCTB) should be based on three macroeconomics factors which are considered to have the largest impact on pro...
We estimate channels of international risk sharing between European Monetary Union (EMU), European Union, and other OECD countries 1992{2007. We focus on risk sharing through savings, factor income ...
Using a variance decomposition of shocks to GDP, we quantify the role of international factor income, international transfers, and saving in achieving risk sharing during the recent European crisis. ...
We investigate the empirical relation between risk sharing and specialization in production. We find that there is more risk sharing among regions within countries than among countries and that...
We ˉnd that risk sharing in the European Union (EU) has been increasing over the past decade due to increased cross-ownership of assets across countries. Industrial speciaization has also been increa...
This study empirically investigates the relationship between design structure and organization structure in the context of new infrastructure development projects. Our research setting is a capital pr...
What restrictions should be placed on advertising agencies with respect to serving accounts or clients that are competitors of one another in order to avoid conflicts in interest? In recent decades, t...
Recent research by Koopman, Wang and Wei (AER, February 2014) has provided a framework to decompose a country’s total gross exports into four parts: (a) exports of domestic value-added that are eventu...
I investigate the effect of financial innovation on portfolio risks when traders have belief disagreements. I decompose traders’ average portfolio risks into two components: the uninsurable variance, ...
Yard-Sale (YS) is a stochastic multiplicative wealth-exchange model with two phases: a stable one where wealth is shared, and an unstable one where wealth condenses onto one agent. YS is here studied ...
We consider the market ofn nancial agents who aim to increase their expected utilities by sharing their random incomes. Given the optimal sharing rules,we address the situation where agents do not sha...
There is a growing consensus that insurgent access to natural resource revenues prolongs armed conflicts and presents significant hurdles to peacekeeping missions. This article examines the effectiven...
There is a growing consensus that insurgent access to natural resource revenues prolongs armed conflicts and presents significant hurdles to peacekeeping missions. This article examines the effectiven...
There is a growing consensus that insurgent access to natural resource revenues prolongs armed conflicts and presents significant hurdles to peacekeeping missions. This article examines the effectiven...
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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