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The Cost of Financial Frictions for Life Insurers
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Cited by:
- Maurer, Raimond & Mitchell, Olivia S. & Rogalla, Ralph & Siegelin, Ivonne, 2016.
"Accounting and actuarial smoothing of retirement payouts in participating life annuities,"
Insurance: Mathematics and Economics, Elsevier, vol. 71(C), pages 268-283.
- Raimond Maurer & Olivia S. Mitchell & Ralph Rogalla & Ivonne Siegelin, 2014. "Accounting and Actuarial Smoothing of Retirement Payouts in Participating Life Annuities," NBER Working Papers 20124, National Bureau of Economic Research, Inc.
- Ralph S.J. Koijen & Stijn Nieuwerburgh & Motohiro Yogo, 2016.
"Health and Mortality Delta: Assessing the Welfare Cost of Household Insurance Choice,"
Journal of Finance, American Finance Association, vol. 71(2), pages 957-1010, April.
- Ralph Koijen & Stijn Van Nieuwerburgh & Motohiro Yogo, 2011. "Health and Mortality Delta: Assessing the Welfare Cost of Household Insurance Choice," NBER Working Papers 17325, National Bureau of Economic Research, Inc.
- Ralph S. J. Koijen & Stijn Van Nieuwerburgh & Motohiro Yogo, 2014. "Health and Mortality Delta: Assessing the Welfare Cost of Household Insurance Choice," Staff Report 499, Federal Reserve Bank of Minneapolis.
- Stijn Van Nieuwerburgh & Motohiro Yogo & Ralph S. J. Koijen, 2011. "Health and Mortality Delta: Assessing the Welfare Cost of Household Insurance Choice," 2011 Meeting Papers 633, Society for Economic Dynamics.
- Timothy F. Harris & Aaron Yelowitz & Charles Courtemanche, 2021.
"Did COVID‐19 change life insurance offerings?,"
Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 88(4), pages 831-861, December.
- Timothy F. Harris & Aaron Yelowitz & Charles J. Courtemanche, 2020. "Did COVID-19 Change Life Insurance Offerings?," NBER Working Papers 28172, National Bureau of Economic Research, Inc.
- Harris, Timothy F. & Yelowitz, Aaron & Courtemanche, Charles, 2020. "Did COVID-19 Change Life Insurance Offerings?," IZA Discussion Papers 13912, Institute of Labor Economics (IZA).
- Beyer, Marcel, 2023. "Gambling for recovery? Exploring the riskiness of European insurers' assets during the Covid-19 crisis 2020," ICIR Working Paper Series 46/23, Goethe University Frankfurt, International Center for Insurance Regulation (ICIR), revised 2023.
- Benjamin Knox & Jakob Ahm Sørensen, 2024. "Insurers’ Investments and Insurance Prices," Finance and Economics Discussion Series 2024-058, Board of Governors of the Federal Reserve System (U.S.).
- Chen, Xuanjuan & Sun, Zhenzhen & Yao, Tong & Yu, Tong, 2020. "Does operating risk affect portfolio risk? Evidence from insurers' securities holding," Journal of Corporate Finance, Elsevier, vol. 62(C).
- Markus Behn & Rainer Haselmann & Vikrant Vig, 2022.
"The Limits of Model‐Based Regulation,"
Journal of Finance, American Finance Association, vol. 77(3), pages 1635-1684, June.
- Behn, Markus Wilhelm & Haselmann, Rainer & Vig, Vikrant, 2014. "The limits of model-based regulation," IMFS Working Paper Series 82, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
- Behn, Markus & Haselmann, Rainer & Vig, Vikrant, 2016. "The limits of model-based regulation," Working Paper Series 1928, European Central Bank.
- Behn, Markus & Haselmann, Rainer & Vig, Vikrant, 2021. "The Limits of Model-Based Regulation," LawFin Working Paper Series 20, Goethe University, Center for Advanced Studies on the Foundations of Law and Finance (LawFin).
- Behn, Markus & Haselmann, Rainer & Vig, Vikrant, 2014. "The limits of model-based regulation," SAFE Working Paper Series 75, Leibniz Institute for Financial Research SAFE.
- Joseph Briggs & Christopher Tonetti, 2019. "Risky Insurance: Insurance Portfolio Choice with Incomplete Markets," 2019 Meeting Papers 1388, Society for Economic Dynamics.
- Ralph S. J. Koijen & Motohiro Yogo, 2021.
"The evolution from life insurance to financial engineering,"
The Geneva Risk and Insurance Review, Palgrave Macmillan;International Association for the Study of Insurance Economics (The Geneva Association), vol. 46(2), pages 89-111, September.
- Koijen, Ralph & Yogo, Motohiro, 2021. "The Evolution from Life Insurance to Financial Engineering," CEPR Discussion Papers 16348, C.E.P.R. Discussion Papers.
- Ralph S. J. Koijen & Motohiro Yogo, 2021. "The Evolution from Life Insurance to Financial Engineering," NBER Working Papers 29030, National Bureau of Economic Research, Inc.
- David Musto & Greg Nini & Krista Schwarz, 2018. "Notes on Bonds: Illiquidity Feedback During the Financial Crisis," The Review of Financial Studies, Society for Financial Studies, vol. 31(8), pages 2983-3018.
- Nanda, Vikram & Wu, Wei & Zhou, Xing (Alex), 2019.
"Investment Commonality across Insurance Companies: Fire Sale Risk and Corporate Yield Spreads,"
Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 54(6), pages 2543-2574, December.
- Vikram Nanda & Wei Wu & Xing Zhou, 2017. "Investment Commonality across Insurance Companies : Fire Sale Risk and Corporate Yield Spreads," Finance and Economics Discussion Series 2017-069, Board of Governors of the Federal Reserve System (U.S.).
- Berdin, Elia, 2016. "Interest rate risk, longevity risk and the solvency of life insurers," ICIR Working Paper Series 23/16, Goethe University Frankfurt, International Center for Insurance Regulation (ICIR).
- Semyon Malamud & Andreas Schrimpf, 2016.
"Intermediation Markups and Monetary Policy Passthrough,"
Swiss Finance Institute Research Paper Series
16-75, Swiss Finance Institute.
- Andreas Schrimpf & Semyon Malamud, 2017. "Intermediation Markups and Monetary Policy Passthrough," 2017 Meeting Papers 812, Society for Economic Dynamics.
- Schrimpf, Paul & Malamud, Semyon, 2018. "Intermediation markups and monetary policy pass-through," CEPR Discussion Papers 12623, C.E.P.R. Discussion Papers.
- Cassola, Nuno & Koulischer, François, 2019.
"The collateral channel of open market operations,"
Journal of Financial Stability, Elsevier, vol. 41(C), pages 73-90.
- Cassola, Nuno & Koulischer, François, 2016. "The collateral channel of open market operations," Working Paper Series 1906, European Central Bank.
- N. Cassola & F. Koulischer, 2016. "The Collateral Channel of Open Market Operations," Working papers 593, Banque de France.
- Thorsten Moenig, 2022. "It's RILA time: An introduction to registered index‐linked annuities," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 89(2), pages 339-369, June.
- Hombert, Johan & Möhlmann, Axel & Weiß, Matthias, 2021. "Inter-cohort risk sharing with long-term guarantees: Evidence from German participating contracts," Discussion Papers 10/2021, Deutsche Bundesbank.
- Fulvia Fringuellotti & João A. C. Santos, 2021.
"Insurance Companies and the Growth of Corporate Loan Securitization,"
Liberty Street Economics
20211013, Federal Reserve Bank of New York.
- Fulvia Fringuellotti & João A. C. Santos, 2021. "Insurance Companies and the Growth of Corporate Loans' Securitization," Staff Reports 975, Federal Reserve Bank of New York.
- Markus Behn & Giacomo Mangiante & Laura Parisi & Michael Wedow, 2022.
"Behind the Scenes of the Beauty Contest—Window Dressing and the G-SIB Framework,"
International Journal of Central Banking, International Journal of Central Banking, vol. 18(5), pages 1-42, December.
- Behn, Markus & Mangiante, Giacomo & Parisi, Laura & Wedow, Michael, 2019. "Behind the scenes of the beauty contest: window dressing and the G-SIB framework," Working Paper Series 2298, European Central Bank.
- Jonas R. Jahnert & Hato Schmeiser & Florian Schreiber, 2022. "Pricing strategies in the German term life insurance market: An empirical analysis," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 25(1), pages 19-34, April.
- Boyarchenko, Nina, 2022. "Comment on “central bank policy and the concentration of risk: Empirical estimates” by Nuno Coimbra, Daisoon Kim and Hélène Rey," Journal of Monetary Economics, Elsevier, vol. 125(C), pages 199-201.
- Yi, Minli & Yang, Yang & Lin, Jyh-Horng, 2021. "Affiliated reinsurance and insurer performance under capital regulation," Finance Research Letters, Elsevier, vol. 39(C).
- Berdin, Elia & Pancaro, Cosimo & Kok Sørensen, Christoffer, 2016.
"A stochastic forward-looking model to assess the profitability and solvency of European insurers,"
ICIR Working Paper Series
21/16, Goethe University Frankfurt, International Center for Insurance Regulation (ICIR).
- Berdin, Elia & Pancaro, Cosimo & Kok Sørensen, Christoffer, 2016. "A stochastic forward-looking model to assess the profitability and solvency of European insurers," SAFE Working Paper Series 137, Leibniz Institute for Financial Research SAFE, revised 2016.
- Kok, Christoffer & Pancaro, Cosimo & Berdin, Elia, 2017. "A stochastic forward-looking model to assess the profitability and solvency of European insurers," Working Paper Series 2028, European Central Bank.
- Liu, Cai, 2021. "The IRB model, bank regulatory arbitrage, and the Eurozone crisis," Journal of International Money and Finance, Elsevier, vol. 116(C).
- Ralph S.J. Koijen & Motohiro Yogo, 2017. "Risk of Life Insurers: Recent Trends and Transmission Mechanisms," NBER Working Papers 23365, National Bureau of Economic Research, Inc.
- Robin Greenwood & Annette Vissing-Jorgensen, 2018.
"The Impact of Pensions and Insurance on Global Yield Curves,"
Harvard Business School Working Papers
18-109, Harvard Business School, revised Dec 2018.
- Robin M. Greenwood & Annette Vissing-Jorgensen, 2019. "The Impact of Pensions and Insurance on Global Yield Curves," Swiss Finance Institute Research Paper Series 19-59, Swiss Finance Institute.
- Terrence Hendershott & Dan Li & Dmitry Livdan & Norman Schürhoff, 2020. "Relationship Trading in Over‐the‐Counter Markets," Journal of Finance, American Finance Association, vol. 75(2), pages 683-734, April.
- Aiello, Darren J., 2022. "Financially constrained mortgage servicers," Journal of Financial Economics, Elsevier, vol. 144(2), pages 590-610.
- Bo Becker & Victoria Ivashina, 2015.
"Reaching for Yield in the Bond Market,"
Journal of Finance, American Finance Association, vol. 70(5), pages 1863-1902, October.
- Bo Becker & Victoria Ivashina, 2013. "Reaching for Yield in the Bond Market," NBER Working Papers 18909, National Bureau of Economic Research, Inc.
- Nina Boyarchenko & Leonardo Elias & Philippe Mueller, 2019. "Corporate Credit Provision," Staff Reports 895, Federal Reserve Bank of New York.
- Laura Blattner & Luisa Farinha & Francisca Rebelo, 2017.
"When Losses Turn Into Loans: The Cost of Undercapitalized Banks,"
2017 Papers
pbl215, Job Market Papers.
- Blattner, Laura & Farinha, Luísa & Rebelo, Francisca, 2019. "When losses turn into loans: the cost of undercapitalized banks," Working Paper Series 2228, European Central Bank.
- Blattner, Laura & Farinha, Luisa & Rebelo, Francisco, 2018. "When Losses Turn into Loans: The Cost of Undercapitalized Banks," Research Papers 3688, Stanford University, Graduate School of Business.
- Luísa Farinha & Francisca Rebelo, 2018. "When losses turn into loans: the cost of undercapitalized banks," Working Papers w201816, Banco de Portugal, Economics and Research Department.
- Chien-Chiang Lee & Chun-Wei Lin & Chi-Chuan Lee, 0. "The impact of peer effects and economic policy-related uncertainty on U.S. life insurers' investment decisions," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 0, pages 1-31.
- Winston Wei Dou & Yan Ji, 2021. "External Financing and Customer Capital: A Financial Theory of Markups," Management Science, INFORMS, vol. 67(9), pages 5569-5585, September.
- Bingzheng Chen & Zongxia Liang & Shunzhi Pang, 2024. "Dynamic Investment-Driven Insurance Pricing: Equilibrium Analysis and Welfare Implication," Papers 2410.18432, arXiv.org.
- Ralph S. J. Koijen & Motohiro Yogo, 2016.
"Shadow Insurance,"
Econometrica, Econometric Society, vol. 84, pages 1265-1287, May.
- Ralph S.J. Koijen & Motohiro Yogo, 2013. "Shadow Insurance," NBER Working Papers 19568, National Bureau of Economic Research, Inc.
- Ralph S. J. Koijen & Motohiro Yogo, 2014. "Shadow Insurance," Staff Report 505, Federal Reserve Bank of Minneapolis.
- Ralph S. J. Koijen & Motohiro Yogo, 2014. "Shadow Insurance," Swiss Finance Institute Research Paper Series 14-64, Swiss Finance Institute, revised May 2016.
- Bo Becker & Marcus M Opp & Farzad Saidi, 2022. "Regulatory Forbearance in the U.S. Insurance Industry: The Effects of Removing Capital Requirements for an Asset Class," The Review of Financial Studies, Society for Financial Studies, vol. 35(12), pages 5438-5482.
- Bo Becker & Efraim Benmelech, 2021. "The Resilience of the U.S. Corporate Bond Market During Financial Crises," NBER Working Papers 28868, National Bureau of Economic Research, Inc.
- Ralph S.J. Koijen & Motohiro Yogo, 2022.
"The Fragility of Market Risk Insurance,"
Journal of Finance, American Finance Association, vol. 77(2), pages 815-862, April.
- Koijen, Ralph & Yogo, Motohiro, 2018. "The Fragility of Market Risk Insurance," CEPR Discussion Papers 12560, C.E.P.R. Discussion Papers.
- Ralph Koijen & Motohiro Yogo, 2022. "The Fragility of Market Risk Insurance," Working Papers 2022-3, Princeton University. Economics Department..
- Ralph Koijen & Motohiro Yogo, 2018. "The Fragility of Market Risk Insurance," NBER Working Papers 24182, National Bureau of Economic Research, Inc.
- Chien-Chiang Lee & Chun-Wei Lin & Chi-Chuan Lee, 2021. "The impact of peer effects and economic policy-related uncertainty on U.S. life insurers' investment decisions," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 46(1), pages 22-52, January.
- Kirti, Divya, 2024.
"When gambling for resurrection is too risky,"
Journal of Banking & Finance, Elsevier, vol. 162(C).
- Mr. Divya Kirti, 2017. "When Gambling for Resurrection is Too Risky," IMF Working Papers 2017/180, International Monetary Fund.
- Kirti, Divya, 2018. "When gambling for resurrection is too risky," ESRB Working Paper Series 69, European Systemic Risk Board.
- Gino Cenedese & Pasquale Della Corte & Tianyu Wang, 2021.
"Currency Mispricing and Dealer Balance Sheets,"
Journal of Finance, American Finance Association, vol. 76(6), pages 2763-2803, December.
- Cenedese, Gino & Della Corte, Pasquale & Wang, Tianyu, 2019. "Currency mispricing and dealer balance sheets," Bank of England working papers 779, Bank of England.
- Della Corte, Pasquale & Cenedese, Gino & Wang, Tianyu, 2020. "Currency Mispricing and Dealer Balance Sheets," CEPR Discussion Papers 15569, C.E.P.R. Discussion Papers.
- Ge, Shan & Weisbach, Michael S., 2021.
"The role of financial conditions in portfolio choices: The case of insurers,"
Journal of Financial Economics, Elsevier, vol. 142(2), pages 803-830.
- Shan Ge & Michael S. Weisbach, 2019. "The Role of Financial Conditions in Portfolio Choices: The Case of Insurers," NBER Working Papers 25677, National Bureau of Economic Research, Inc.
- Axel Möhlmann, 2021.
"Interest rate risk of life insurers: Evidence from accounting data,"
Financial Management, Financial Management Association International, vol. 50(2), pages 587-612, June.
- Möhlmann, Axel, 2017. "Interest rate risk of life insurers: Evidence from accounting data," Discussion Papers 10/2017, Deutsche Bundesbank.
- Koch-Medina, Pablo & Moreno-Bromberg, Santiago & Ravanelli, Claudia & Šikić, Mario, 2021. "Revisiting optimal investment strategies of value-maximizing insurance firms," Insurance: Mathematics and Economics, Elsevier, vol. 99(C), pages 131-151.
- Andy Wong & Michael Sherris & Ralph Stevens, 2017. "Natural Hedging Strategies for Life Insurers: Impact of Product Design and Risk Measure," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 84(1), pages 153-175, March.
- Daniel Bauer & Thorsten Moenig, 2023. "Cheaper by the bundle: The interaction of frictions and option exercise in variable annuities," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 90(2), pages 459-486, June.
- Shan Ge, 2022. "How Do Financial Constraints Affect Product Pricing? Evidence from Weather and Life Insurance Premiums," Journal of Finance, American Finance Association, vol. 77(1), pages 449-503, February.
- Bo Becker & Marcus Opp, 2013. "Regulatory reform and risk-taking: replacing ratings," NBER Working Papers 19257, National Bureau of Economic Research, Inc.
- Bijlsma, Melle & Vermeulen, Robert, 2016. "Insurance companies’ trading behaviour during the European sovereign debt crisis: Flight home or flight to quality?," Journal of Financial Stability, Elsevier, vol. 27(C), pages 137-154.
- Craig B. Merrill & Taylor D. Nadauld & Philip E. Strahan, 2019. "Final Demand for Structured Finance Securities," Management Science, INFORMS, vol. 65(1), pages 390-412, January.
- Lenel, Moritz & Piazzesi, Monika & Schneider, Martin, 2019. "The short rate disconnect in a monetary economy," Journal of Monetary Economics, Elsevier, vol. 106(C), pages 59-77.
- victor Lyonnet, 2018. "Asset-liability management in life insurance: Evidence from France," Working Papers 2018-12, Center for Research in Economics and Statistics.
- Dou, Winston Wei & Ji, Yan & Wu, Wei, 2021. "Competition, profitability, and discount rates," Journal of Financial Economics, Elsevier, vol. 140(2), pages 582-620.
- Hu, Xiaoxue & Li, Dongxu, 2022. "Do horizontal mergers affect rivals’ cash holdings?," International Review of Economics & Finance, Elsevier, vol. 82(C), pages 275-298.
- He, Zhiguo & Kelly, Bryan & Manela, Asaf, 2017.
"Intermediary asset pricing: New evidence from many asset classes,"
Journal of Financial Economics, Elsevier, vol. 126(1), pages 1-35.
- Zhiguo He & Bryan Kelly & Asaf Manela, 2016. "Intermediary Asset Pricing: New Evidence from Many Asset Classes," NBER Working Papers 21920, National Bureau of Economic Research, Inc.
- Sangmin Oh & Ishita Sen & Ana-Maria Tenekedjieva, 2022. "Pricing of Climate Risk Insurance: Regulation and Cross-Subsidies," Finance and Economics Discussion Series 2022-064, Board of Governors of the Federal Reserve System (U.S.).
- Behn, Markus & Couaillier, Cyril, 2023. "Same same but different: credit risk provisioning under IFRS 9," Working Paper Series 2841, European Central Bank.
- Karolina Puławska, 2021. "Financial Stability of European Insurance Companies during the COVID-19 Pandemic," JRFM, MDPI, vol. 14(6), pages 1-16, June.
- Eric Zwick & James Mahon, 2014. "Do financial frictions amplify fiscal policy? Evidence from business investment stimulus," Working Papers 1415, Oxford University Centre for Business Taxation.
- Focarelli, Dario, 2017. "Why Insurance Regulation is Crucial for Long-term Investment and Economic Growth," LEAP Working Papers 2017/1, Luiss Institute for European Analysis and Policy.
- Greg Niehaus, 2023. "Personal taxes, cost of insurer equity capital, and the case of offshore hedge fund reinsurers," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 90(2), pages 249-281, June.
- Becker, Bo & Opp, Marcus & Saidi, Farzad, 2020. "Regulatory Forbearance in the U.S. Insurance Industry: The Effects of Eliminating Capital Requirements," CEPR Discussion Papers 14373, C.E.P.R. Discussion Papers.
- Robert N. Killins & Haiwei Chen, 2022. "The impact of the yield curve on the equity returns of insurance companies," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(1), pages 1134-1153, January.
- Sen, Ishita & Humphry, David, 2018. "Capital regulation and product market outcomes," Bank of England working papers 715, Bank of England.
- Jansen, Kristy, 2021. "Essays on institutional investors, portfolio choice, and asset prices," Other publications TiSEM fd998408-d282-4e0f-b542-4, Tilburg University, School of Economics and Management.