A multiperiod model is developed to measure the costs posed to the guaranty fund in a setting that incorporates risk-based capital regulations, interest rate risk and the possibility of catastrophic losses. The guaranty contract is modeled as a put option on the asset of the insurance company with a stochastic strike price and an uncertain maturity. The impacts of the key factors of this model ...

A report exploring alternative methods of extending coverage to the self-employed and to agricultural and domestic employees was recently published by the Division of Tax Research of the Treasury Department? Because of the pertinence of its subject, the Bulletin is reproducing here the introductory section of the report. 1 The Extension of Old-Age and Survivors Insurance to Agricultural and Dom...

This note provides two results pertaining to the pricing of agricultural revenue insurance contracts under joint price and yield risk. First, a weakening of the concordance ordering is used to sign the effect of greater dependence between the multiplicative risks (price and yield) on the expected indemnity payment. Second, sufficient conditions are found when the premium rate for revenue insura...

This study illustrates a methodology to measure empirically household food vulnerability. Food vulnerability is defined in terms of the probability now of being undernourished in the future. The empirical analysis is based on panel data from northern Mali, collected in 1997-98. Our empirical results clearly show that even though the groups of currently undernourished and food vulnerable househo...

Sektorem, który jest szczególnie podatny na różnego rodzaju ryzyka, rolnictwo. Chodzi tu przede wszystkim o ryzyka charakterze produkcyjnym, instytucjonalnym, jak również społecznym. Ryzykami, które istotnie mogą zachwiać stabilnością funkcjonowania gospodarstw rolnych, a co za tym idzie całego sektora, są społeczne, potwierdzają liczne badania. Stąd istotne wydaje się uzyskanie odpowiedzi pyta...

During the post 1990 period, service sector in most of the Asian economies witnessed growth fueled by significant changes in their financial sector. India is now being ranked as one of the fastest growing economy of the world. During last one decade or so, role of Indian insurance and mutual fund industry as a significant financial service in financial market has really been noteworthy. In fact...