01669cas a2200241 a 4500 AALejournalIMF017807 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484312667 1018-5941 BD-DhAAL BD-DhAAL Kirti, Divya. When Gambling for Resurrection is Too Risky / Divya Kirti. Washington, D.C. : International Monetary Fund, 2017. 1 online resource (59 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Rather than taking on more risk, US insurers hit hard by the crisis pulled back from risk taking, relative to insurers not hit as hard by the crisis. Capital requirements alone do not explain this risk reduction: insurers hit hard reduced risk within assets with identical regulatory treatment. State level US insurance regulation makes it unlikely this risk reduction was driven by moral suasion. Other financial institutions also reduce risk after large shocks: the same approach applied to banks yields similar results. My results suggest that, at least in some circumstances, franchise value can dominate, making gambling for resurrection too risky. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2017/180 Full text available on IMF http://elibrary.imf.org/view/journals/001/2017/180/001.2017.issue-180-en.xml IMF e-Library