EVIDENCE ON THE TIME-SERIES PROPERTIES OF INSURANCE PREMIUMS AND CAUSES OF THE UNDERWRITING CYCLE - NEW SUPPORT FOR THE CAPITAL-MARKET IMPERFECTION HYPOTHESIS

Authors
NIEHAUS G TERRY A
Citation
G. Niehaus et A. Terry, EVIDENCE ON THE TIME-SERIES PROPERTIES OF INSURANCE PREMIUMS AND CAUSES OF THE UNDERWRITING CYCLE - NEW SUPPORT FOR THE CAPITAL-MARKET IMPERFECTION HYPOTHESIS, The Journal of risk and insurance, 60(3), 1993, pp. 466-479
Citations number
27
Categorie Soggetti
Business Finance
Journal title
The Journal of risk and insurance → ACNP
ISSN journal
00224367
Volume
60
Issue
3
Year of publication
1993
Pages
466 - 479
Database
ISI
SICI code
0022-4367(1993)60:3<466:EOTTPO>2.0.ZU;2-U
Abstract
Time series causality tests are used to examine hypotheses about the d eterminants of insurance premiums and causes of the underwriting cycle . The evidence supports the hypothesis that underwriting cycles are pa rtially due to costly external capital as predicted by Winter (1989), Cummins and Danzon (1992), and Gron (1992).