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Protection against national emergency: International public goods and insurance

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  • Toshihiro Ihori

Abstract

This paper develops a model of economic protection against random emergency costs. To mitigate the effects of these disruptions, each country creates a private mutual insurance market and provides voluntarily an international public good. We will explore how protection through voluntary provision of an international public good as well as mutual insurance would affect welfare. The existence of both mutual insurance and an international public good is crucial to obtain welfare equalization and the weak paradox of international transfer.

Suggested Citation

  • Toshihiro Ihori, 1999. "Protection against national emergency: International public goods and insurance," Defence and Peace Economics, Taylor & Francis Journals, vol. 10(2), pages 117-137.
    • Handle: RePEc:taf:defpea:v:10:y:1999:i:2:p:117-137
    DOI: 10.1080/10430719908404920
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    References listed on IDEAS

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    1. Alberto Alesina & Enrico Spolaore, 1997. "On the Number and Size of Nations," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 112(4), pages 1027-1056.
    2. Alesina, Alberto & Perotti, Roberto, 1998. "Economic Risk and Political Risk in Fiscal Unions," Economic Journal, Royal Economic Society, vol. 108(449), pages 989-1008, July.
    3. Cornes,Richard & Sandler,Todd, 1996. "The Theory of Externalities, Public Goods, and Club Goods," Cambridge Books, Cambridge University Press, number 9780521477185, September.
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    Cited by:

    1. Anderton,Charles H. & Carter,John R., 2009. "Principles of Conflict Economics," Cambridge Books, Cambridge University Press, number 9780521875578, December.
    2. Martin McGuire, 2006. "Uncertainty, Risk Aversion, And Optimal Defense Against Interruptions In Supply," Defence and Peace Economics, Taylor & Francis Journals, vol. 17(4), pages 287-309.

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