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BL
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| Record Number
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775016
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b595011
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| Main Entry
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edited by Mark S. Sniderman.
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| Title & Author
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Government Risk-Bearing : : Proceedings of a Conference Held at the Federal Reserve Bank of Cleveland, May 1991\ edited by Mark S. Sniderman.
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| Publication Statement
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Dordrecht : Springer Netherlands, 1993
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| Page. NO
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(xvii, 182 pages)
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| ISBN
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9401121842
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: 9789401121842
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| Contents
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1 Institutional Control and Large-scale, Long-term Hazards --; 2 Ambiguity and Government Risk-Bearing for Low-Probability Events --; 3 Public Insurance of Private Risks: Theory and Evidence from Agriculture --; 4 Government Risk-Bearing in the Financial Sector of a Capitalist Economy --; 5 Perspectives on the Role of Government Risk-Bearing within the Financial Sector --; 6 Government Risk-Bearing: What Works and What Doesn't --; 7 The PBGC: A Costly Lesson in the Economics of Federal Insurance --; 8 Recent Federal Efforts to Measure and Control Government Risk-Bearing --; 9 Information and Incentives to Improve Government Risk-Bearing.
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| Abstract
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The federal government wields substantial influence over resource allocation in the economy through its provision of credit and risk-bearing services to the private economy. As the federal government has expanded its presence in the U.S. economy during this century, it has increasingly developed programs aimed at bearing risks that the private sector either would not accept at any price, or would take on but at a price thought to be so great that most potential beneficiaries would not purchase the coverage. In addition to the allocative effects these federal credit and risk-bearing programs impose on the economy, they also expose taxpayers to losses when program revenues do not cover costs. A recent example of this problem is the federal government's payments to depositors at a large number of insolvent financial institutions. Government Risk-Bearing is based on a Federal Reserve Bank of Cleveland conference and deals with the concept and performance of the Federal government as a risk-bearing enterprise. The authors in this volume - primarily experts on insurance products in which the federal government has some involvement - consider the rationale for a federal presence in these markets and discuss the resulting effects on market performance and taxpayer exposure. This volume provides better understanding of the government as a risk manager and will assist public discussion about the appropriate role for government in the provision and administration of deposit insurance.
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| Subject
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Economics.
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Environmental economics.
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Microeconomics.
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| LC Classification
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HG8210.E358 1993
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| Added Entry
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Mark S Sniderman
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| Parallel Title
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Proceedings of a Conference held at the Federal Reserve Bank of Cleveland
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