96
Views
0
CrossRef citations to date
0
Altmetric
Feature Articles

Why Changes in PBGC and FDIC Premiums Should Not Fully Reflect Changes in Underlying Risk (With Some Application to Long-Term Private Insurance Contracts)

REFERENCES

  • Baily, M. 1978. Some aspects of optimal unemployment insurance. Journal of Public Economics 10: 379–402.
  • Blair, C. E., and G. S. Fissel. 1991. A framework for analyzing deposit insurance pricing. FDIC Banking Review, 25, pp 25–36.
  • Brown, J. R. 2008. Guaranteed trouble: The economic effects of the pension benefit guaranty corporation. Journal of Economic Perspectives 22(1): 177–98. doi:10.1257/jep.22.1.177
  • Chetty, R, 2006. A general formula for the optimal level of social insurance. Journal of Public Economics 90: 1879–901. doi:10.1016/j.jpubeco.2006.01.004
  • Demirgüç-Kunt, A., B. Karacaovali and L. Laeven. 2005. Deposit insurance around the world: A comprehensive database. World Bank Policy Research Working Paper 3628, June.
  • Duan, J.-C., and M.-T. Yu. 1994. Forbearance and pricing deposit insurance in a multi-period framework. Journal of Risk and Insurance 61(4): 575–91. doi:10.2307/253639
  • FDIC. 2011. Final rule on assessment, 12 CFR 327. https://www.fdic.gov/news/board/2011rule1.pdf.
  • FDIC. 2014. Core principles for effective deposit insurance schemes. https://www.fdic.gov/bank/international/iadi/coreprinciples11-2014.pdf.
  • FDIC. 2020. A history of risk-based premiums at the FDIC. Report no. 2020-01.
  • Fissel, G.S. 1994. The risk-adjusted premium system of the FDIC. FDIC Banking Review 28: 25–36.
  • Flannery, M. J. 1991. Pricing deposit insurance when the insurer measures bank risk with error. Journal of Banking and Finance 15(4–5): 975–98. doi:10.1016/0378-4266(91)90109-Y
  • Froot, K. A., D. S. Scharfstein, and J. C. Stein. 1993. Risk management: Coordinating corporate investment and financing policies. Journal of Finance 48(5): 1629-–58 doi:10.2307/2329062
  • Hendel, I., and A. Lizzeri. 2003. The role of commitment in dynamic contracts: Evidence from life insurance. Quarterly Journal of Economics 118(1): 299–328. doi:10.1162/00335530360535216
  • Hendren, N. 2021. Measuring ex ante welfare in insurance markets. Review of Economic Studies 88(3): 1193–223. doi:10.1093/restud/rdaa015
  • Holmström, B. 1979. Moral hazard and observability. Bell Journal of Economics 10(1): 74–91
  • Kendall, S. B. 1992. A note on the existence and characteristics of fair deposit insurance premia. Journal of Banking and Finance 16: 289–97. doi:10.1016/0378-4266(92)90015-R
  • Lee, S.-C., C.-T. Lin, and M.-S. Tsai. 2015. The pricing of deposit insurance in the presence of systemic risk. Journal of Banking and Finance 51: 1–11. doi:10.1016/j.jbankfin.2014.10.012
  • Marcus, A. 1985. Spinoff/terminations and the value of pension insurance. Journal of Finance 40(3): 911–24. doi:10.1111/j.1540-6261.1985.tb05018.x
  • McCarthy, D. G., and A. Neuberger. 2005a. Pricing pension insurance. Fiscal Studies 26(4): 471–89. doi:10.1111/j.1475-5890.2005.00020.x
  • McCarthy, D. G., and A. Neuberger. 2005b. The pension protection fund. Fiscal Studies 26(2): 139–67. doi:10.1111/j.1475-5890.2005.00008.x
  • Pennacchi, G. G. 1987. A re-examination of the over- (or under-) pricing of deposit insurance. Journal of Money, Credit and Banking 19(3): 340–60. doi:10.2307/1992081
  • Rees, R., and A. Wambach. 2008. The microeconomics of insurance. Foundations and Trends in Microeconomics 4(1–2): 1–163. doi:10.1561/0700000023
  • Winter, R. A. 2013. Optimal insurance contracts under moral hazard. In Handbook of insurance, 205–30. New York, NY: Springer.

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.