Klaus M. Schmidt

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This paper analyzes dynamic equilibrium risk sharing contracts between profit-maximizing intermediaries and a large pool of ex ante identical agents that face idiosyncratic income uncertainty that makes them heterogeneous ex post. In any given period, after having observed her income, the agent can walk away from the contract, while the intermediary cannot,(More)
  • Nadav Levy, Ady Pauzner, Alex Cukierman, Eddie Dekel, Daniel Ferreira, Elhanan Helpman +3 others
  • 2010
Public projects typically generate both monetary revenue and social bene…ts that cannot be monetized. Anticipated revenues from government-owned projects increase the liklihood that the government will be able to repay its debt and thus improve its credit rating and lower the …nancing costs of the debt. This should give monetary revenue an added value(More)
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