Union Impact: A Reduced Form Approach

1977 ◽  
Vol 59 (4) ◽  
pp. 503 ◽  
Author(s):  
Lawrence M. Kahn
Keyword(s):  
Reduced Form ◽  
Union Impact ◽  
Form Approach

Demystifying the environmental Kuznets curve: turning a black box into a policy tool

1997 ◽  
Vol 2 (4) ◽  
pp. 465-484 ◽  
Author(s):  
THEODORE PANAYOTOU
Keyword(s):  
Economic Growth ◽  
Low Income ◽  
Reduced Form ◽  
Kuznets Curve ◽  
Income Levels ◽  
Policy Tool ◽  
Explicit Consideration ◽  
Speed Up ◽  
Form Approach

The reduced-form approach to the income–environment relationship has been a useful first step towards answering the question of how economic growth affects the environment. However, without an explicit consideration of the underlying determinants of environmental quality, the scope for policy intervention is unduly circumscribed. In this paper a modest attempt is made to incorporate explicit policy considerations into the income–environment relationship and to explore its determinants as a step towards a better understanding of this relationship and its potential as a policy tool. The role of the rate of economic growth and population density is also explored. A main finding is that at least in the case of ambient SO2 levels, policies and institutions can significantly reduce environmental degradation at low income levels and speed up improvements at higher income levels, thereby flattening the EKC and reducing the environmental price of economic growth.

VALUATION OF MORTGAGE INSURANCE CONTRACTS WITH COUNTERPARTY DEFAULT RISK: REDUCED-FORM APPROACH

2014 ◽  
Vol 44 (2) ◽  
pp. 303-334 ◽  
Author(s):  
Chia-Chien Chang
Keyword(s):  
Default Risk ◽  
Insurance Companies ◽  
Reduced Form ◽  
Mortgage Loans ◽  
Subprime Mortgage ◽  
Mortgage Insurance ◽  
Insurance Contracts ◽  
Mortgage Crisis ◽  
Correlated Defaults ◽  
Form Approach

AbstractIn the recent subprime mortgage crisis, which has caused banks and insurance companies to go bankrupt or into acquisition, the lender and insurer have exhibited not only correlated defaults when exposed to common risk factors but also counterparty default risk, which is triggered by mortgage defaults. Given the correlated defaults and the counterparty default risk, we use the reduced-form approach to derive the closed-form formulas of mortgage insurance contracts with premium refunds, annual premiums and upfront premiums. Regardless of the nature of the premium structures, the numerical analysis with parameter calibration demonstrates that both the correlated defaults and the counterparty default risk significantly impact mortgage insurance premiums, particularly in long-term mortgage loans.

scholarly journals Macroprudential Stress Tests: A Reduced-Form Approach to Quantifying Systemic Risk Losses

2018 ◽  
Vol 18 (49) ◽  
pp. 1
Author(s):  
Zineddine Alla ◽  
Raphael Espinoza ◽  
Qiaoluan Li ◽  
Miguel Segoviano Basurto
Keyword(s):  
Systemic Risk ◽  
Reduced Form ◽  
Stress Tests ◽  
Form Approach
Sign in / Sign up

Export Citation Format

Share Document