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Massachusetts Institute of Technology

Essays in banking and risk management

Abstract

dc:description.abstract

(cont.) Risk Management have begun implementing strategies to provide commodity price and weather insurance in the developing world. In Chapter 3 (joint with Professor Rob Townsend from the University of Chicago), we examine how shocks to the price of rubber, an important but volatile Thai export commodity, affect the income, consumption and intra-household remittances of rural Thai households. In contrast to related work on rainfall shocks, we find rubber price innovations are not well insured or smoothed--remittances, borrowing and saving play only small roles in ameliorating the effect of these shocks on the consumption of affected households. We argue that differences in the relative persistence of the two types of shocks provide a plausible reason for these divergent findings, drawing on the literature on buffer stock models of consumption behavior and risk sharing with limited commitment.

Degree

thesis:*
Department dc:contributor.department
Massachusetts Institute of Technology. Dept. of Economics.
Grantor dc:publisher
Massachusetts Institute of Technology
Year dc:date.issued
2004

Author and committee

dc:creator, dc:contributor.*
Author dc:creator
  • Vickery, James Ian, 1974-
Advisor dc:contributor.advisor
  • Ricardo Caballero.

Subjects

dc:subject × 1

Rights

dc:rights
Statement dc:rights
  • M.I.T. theses are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. See provided URL for inquiries about permission.
Language dc:language.iso
en_US

Identifiers

dc:identifier.*
Handle dc:identifier.uri
http://hdl.handle.net/1721.1/28821
OAI identifier oai:identifier
oai:dspace.mit.edu:1721.1/28821

Chain of custody

source
Harvested from
MIT
Base URL
dspace.mit.edu/oai/request
Last updated
2026-07-22
Source record
OAI-PMH GetRecord
related terms
citation

Vickery, James Ian, 1974-. Essays in banking and risk management. Massachusetts Institute of Technology, 2004. http://hdl.handle.net/1721.1/28821