EconStor Collection:
http://hdl.handle.net/10419/184
2024-03-18T16:16:30ZThe impact of trust, risk and disaster exposure on microinsurance demand: Results of a DCE analysis in Cambodia
http://hdl.handle.net/10419/144881
Title: The impact of trust, risk and disaster exposure on microinsurance demand: Results of a DCE analysis in Cambodia
Authors: Fiala, Oliver; Wende, Danny
Abstract: Natural disasters are increasing in frequency and intensity and have devastating impacts on individuals, both humanitarian and economic, particularly in developing countries. Microinsurance is seen as one promising instrument of disaster risk management, however the level of demand for respective projects remains low. Using behavioural games and a discrete choice experiment, this paper analyses the demand for hypothetical microinsurance products in rural Cambodia and contributes significant household level evidence to the current research. A general preference for microinsurance can be found, with demand significantly affected by price, provider, requirements for prevention and combinations with credit. Furthermore, financial literacy, risk aversion, levels of trust and previous disaster experience impact the individual demand for flood insurance in rural Cambodia.2016-01-01T00:00:00ZDoes labor supply modeling affect findings of transport policy analyses?
http://hdl.handle.net/10419/144883
Title: Does labor supply modeling affect findings of transport policy analyses?
Authors: Hirte, Georg; Tscharaktschiew, Stefan
Abstract: The transport and urban economics literature applies different labor supply approaches when studying economic or planning instruments. Some studies assume that working hours are endogenous while the number of workdays is given, whereas others model only decisions on workdays. Unfortunately, empirical evidence does hardly exist on account of missing data. Against this background, we provide an assessment of whether general effects of transport policies are robust against the modeling of leisure demand and labor supply. We introduce different labor supply approaches into a spatial general equilibrium model and discuss how they affect the welfare implication of congestion policies. We, then, perform simulations and find that in many cases the choice of labor supply modeling not only affects the magnitude of the policy impact but also its direction. While planning instruments are suggested to be quite robust to different labor supply approaches, the way of modeling labor supply may crucially affect the overall welfare implications of economic instruments such as congestion tolls. Based on these findings it becomes clear which labor supply approach is the most appropriate given specific conditions. Our study also emphasizes the need for better micro labor market data that also feature days of sickness, overtime work used to reduce workdays, the actual number of leave days, part-time work, days with telecommuting etc.2015-01-01T00:00:00ZTwo-way migration between similiar countries
http://hdl.handle.net/10419/144884
Title: Two-way migration between similiar countries
Authors: Kreickemeier, Udo; Wrona, Jens
Abstract: We develop a model to explain two-way migration of high-skilled individuals between countries that are similar in their economic characteristics. High-skilled migration results from the combination of workers whose abilities are private knowledge, and a production technology that gives incentives to firms for hiring workers of similar ability. In the presence of migration cost, high-skilled workers self-select into the group of migrants. The laissez-faire equilibrium features too much migration, explained by a negative migration externality. We also show that for sufficiently low levels of migration cost the optimal level of migration, while smaller than in the laissez-faire equilibrium, is strictly positive. Finally, we extend our model into different directions to capture stylized facts in the data and show that our baseline results also hold in these more complex modelling environments.2015-01-01T00:00:00ZThe impact of inflation risk on forward trading and production
http://hdl.handle.net/10419/144882
Title: The impact of inflation risk on forward trading and production
Authors: Broll, Udo; Wong, Kit Pong
Abstract: This note examines the behavior of a competitive firm that faces joint price and inflation risk. Given that the price risk is negatively correlated with the inflation risk in the sense of expectation dependence, the firm optimally opts for an overhedge if the firm's coefficient of relative risk aversion is everywhere no greater than unity. Furthermore, banning the firm from forward trading may induce the firm to produce more or less, depending on whether the price risk premium is positive or negative, respectively. While the price risk premium is unambiguously negative in the absence of the inflation risk, it is not the case when the inflation risk prevails. In contrast to the conventional wisdom, forward hedging needs not always promote production should firms take in inflation seriously.2014-01-01T00:00:00Z