Determinants of Insurers' Performance in Risk Pooling, Risk Management, and Financial Intermediation Activities
نویسندگان
چکیده
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15 صفحه اولOnline Appendix Financial Intermediation, International Risk Sharing, and Reserve Currencies
The Brownian motion in equation (1) is defined on a complete probability space and generates a filtration F . Throughout this appendix, “adapted process” means F (t) adapted. Lemma 1. Let me scale all variables by output. Then, given the conjecture that the saver’s value function only depends on scaled deposits and scaled net transfers, U(D̃,Π̃), the optimization problem is solved by the followin...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2007
ISSN: 1556-5068
DOI: 10.2139/ssrn.988991