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Catastrophe risks: the US National Flood Insurance Program
An interesting analysis of the US National Flood Insurance Program by Erwann Michel-Kerjan appeared in this Fall’s issue of the Journal of Economic Perspectives. One key issue in evaluating the program...
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Insuring against snow storms with futures?
NPR ran a story this week on how airlines and other business are using futures contracts on snowfall “as a type of insurance policy against the weather.” Weather derivatives can be a useful instrument...
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The True Cost of Government Guarantees
The August bankruptcy at the solar panel manufacturer Solyndra has generated a predictable political kerfluffle, since the company had received $527 million in loan guarantees from the Obama...
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The True Cost of Government Guarantees — Take 2
As part of the fallout from last August’s bankruptcy of the Federally-backed solar firm Solyndra, the Obama Administration appointed Herbert Allison, a Republican banker and former Treasury official to...
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