{"id":"https://openalex.org/W2009782020","doi":"https://doi.org/10.1086/296669","title":"Insurance Cycles: Interest Rates and the Capacity Constraint Model","display_name":"Insurance Cycles: Interest Rates and the Capacity Constraint Model","publication_year":1995,"publication_date":"1995-01-01","ids":{"openalex":"https://openalex.org/W2009782020","doi":"https://doi.org/10.1086/296669","mag":"2009782020"},"language":"en","primary_location":{"id":"doi:10.1086/296669","doi":"https://doi.org/10.1086/296669","is_oa":false,"landing_page_url":"https://doi.org/10.1086/296669","pdf_url":null,"source":{"id":"https://openalex.org/S64223753","display_name":"The Journal of Business","issn_l":"0021-9398","issn":["0021-9398","1537-5374"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["anvur-scientific","cwts-core"],"host_organization":"https://openalex.org/P4310315672","host_organization_name":"University of Chicago Press","host_organization_lineage":["https://openalex.org/P4310315672","https://openalex.org/P4310315690"],"host_organization_lineage_names":["University of Chicago Press","University of Chicago"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"The Journal of Business","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5022837669","display_name":"Neil A. Doherty","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Neil A. Doherty","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]},{"author_position":"last","author":{"id":"https://openalex.org/A5041881598","display_name":"James R. Garven","orcid":"https://orcid.org/0000-0003-3291-8476","observed_orcids":["https://orcid.org/0000-0003-3291-8476"]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"James R. Garven","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":7.0774,"has_fulltext":false,"cited_by_count":115,"citation_normalized_percentile":{"value":0.96374993,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":89,"max":100},"biblio":{"volume":"68","issue":"3","first_page":"383","last_page":"383"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T12394","display_name":"Insurance and Financial Risk Management","score":0.9872999787330627,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T12394","display_name":"Insurance and Financial Risk Management","score":0.9872999787330627,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.0031999999191612005,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.0015999999595806003,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/insurance-cycles","display_name":"insurance cycles","score":0.906000018119812},{"id":"https://openalex.org/keywords/interest-rates","display_name":"interest rates","score":0.781000018119812},{"id":"https://openalex.org/keywords/property-liability-insurance","display_name":"property-liability insurance","score":0.7409999966621399},{"id":"https://openalex.org/keywords/underwriting-profit","display_name":"underwriting profit","score":0.7480000257492065},{"id":"https://openalex.org/keywords/asset-liability-mismatch","display_name":"asset-liability mismatch","score":0.847000002861023},{"id":"https://openalex.org/keywords/reinsurance","display_name":"reinsurance","score":0.9589999914169312},{"id":"https://openalex.org/keywords/capital-market-access","display_name":"capital market access","score":0.8339999914169312},{"id":"https://openalex.org/keywords/pricing-behavior","display_name":"pricing behavior","score":0.30399999022483826}],"concepts":[{"id":"https://openalex.org/C175025494","wikidata":"https://www.wikidata.org/wiki/Q179179","display_name":"Interest rate","level":2,"score":0.7206993103027344},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.5548596382141113},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.5312908291816711},{"id":"https://openalex.org/C166970017","wikidata":"https://www.wikidata.org/wiki/Q476118","display_name":"Reinsurance","level":2,"score":0.48756879568099976},{"id":"https://openalex.org/C26503482","wikidata":"https://www.wikidata.org/wiki/Q1898080","display_name":"Underwriting","level":2,"score":0.4655839502811432},{"id":"https://openalex.org/C141570072","wikidata":"https://www.wikidata.org/wiki/Q568338","display_name":"Limited liability","level":2,"score":0.433590292930603},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.358296275138855},{"id":"https://openalex.org/C162118730","wikidata":"https://www.wikidata.org/wiki/Q1128453","display_name":"Actuarial science","level":1,"score":0.3195000886917114},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.2591893672943115}],"mesh":[],"locations_count":4,"locations":[{"id":"doi:10.1086/296669","doi":"https://doi.org/10.1086/296669","is_oa":false,"landing_page_url":"https://doi.org/10.1086/296669","pdf_url":null,"source":{"id":"https://openalex.org/S64223753","display_name":"The Journal of Business","issn_l":"0021-9398","issn":["0021-9398","1537-5374"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["anvur-scientific","cwts-core"],"host_organization":"https://openalex.org/P4310315672","host_organization_name":"University of Chicago Press","host_organization_lineage":["https://openalex.org/P4310315672","https://openalex.org/P4310315690"],"host_organization_lineage_names":["University of Chicago Press","University of Chicago"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"The Journal of Business","raw_type":"journal-article"},{"id":"mag:2009782020","doi":null,"is_oa":false,"landing_page_url":"https://EconPapers.repec.org/RePEc:wpa:wuwpri:9407001","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"RePEc: Research Papers in Economics","raw_type":null},{"id":"mag:3124559953","doi":null,"is_oa":false,"landing_page_url":"https://ideas.repec.org/p/wpa/wuwpri/9407001.html","pdf_url":null,"source":null,"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":null},{"id":"pmh:oai:RePEc:wpa:wuwpri:9407001","doi":null,"is_oa":false,"landing_page_url":"https://econwpa.ub.uni-muenchen.de/econ-wp/ri/papers/9407/9407001.ps.gz","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"}],"best_oa_location":null,"sustainable_development_goals":[],"sustainable_development_goals_aurora":[{"id":"https://metadata.un.org/sdg/8","display_name":"Decent work and economic growth","score":0.6000000238418579}],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":0,"referenced_works":[],"related_works":["https://openalex.org/W7220791683","https://openalex.org/W2911895806","https://openalex.org/W2091034206","https://openalex.org/W7029091356","https://openalex.org/W2022822196","https://openalex.org/W121124380","https://openalex.org/W2065560937","https://openalex.org/W2740322866","https://openalex.org/W7100527501","https://openalex.org/W2028874967"],"abstract_inverted_index":{"Although":[0],"financial":[1],"pricing":[2],"models":[3],"imply":[4],"that":[5,46,98],"profits":[6],"of":[7,61,79],"property-liability":[8],"insurance":[9],"firms":[10,119],"should":[11],"conform":[12],"to":[13,27,74,103,133,141,143],"an":[14],"unpredictable":[15],"time":[16],"series":[17],"process,":[18],"cycles":[19],"are":[20,138],"widely":[21],"reported.":[22],"Some":[23],"controversy":[24],"exists":[25],"as":[26,68,83,125,127],"whether":[28,38],"the":[29,53,58,99,113],"\"underwriting":[30],"cycle\"":[31],"is":[32,115],"a":[33],"mere":[34],"accounting":[35],"artifact":[36],"or":[37,151],"it":[39],"has":[40],"real":[41],"resource":[42],"effects.":[43],"We":[44],"show":[45],"changes":[47,146],"in":[48],"interest":[49,92,105,144],"rates":[50,106],"simultaneously":[51],"affect":[52],"insurer's":[54],"capital":[55,75,80,135],"structure":[56],"and":[57,70,77,123,136],"equilibrium":[59],"level":[60],"underwriting":[62],"profit.":[63],"Depending":[64],"on":[65],"factors":[66],"such":[67,82],"asset":[69],"liability":[71],"durations,":[72],"access":[73,132],"markets,":[76],"availability":[78],"substitutes":[81],"reinsurance,":[84,137],"insurers":[85],"will":[86],"be":[87],"differently":[88],"affected":[89],"by":[90,147],"changing":[91,104],"rates.":[93],"Over":[94],"time,":[95],"we":[96],"find":[97],"average":[100],"market":[101,109],"response":[102,114],"roughly":[107],"tracks":[108],"clearing":[110],"prices,":[111],"although":[112],"somewhat":[116],"dampened.":[117],"However,":[118],"with":[120,129],"mismatched":[121],"assets":[122],"liabilities,":[124],"well":[126],"those":[128],"more":[130,139],"costly":[131],"new":[134],"likely":[140],"respond":[142],"rate":[145],"either":[148],"rationing":[149],"supply":[150],"instituting":[152],"abnormal":[153],"price":[154],"changes.":[155]},"counts_by_year":[{"year":2026,"cited_by_count":2},{"year":2025,"cited_by_count":2},{"year":2024,"cited_by_count":2},{"year":2023,"cited_by_count":5},{"year":2022,"cited_by_count":20},{"year":2021,"cited_by_count":2},{"year":2020,"cited_by_count":1},{"year":2019,"cited_by_count":2},{"year":2018,"cited_by_count":3},{"year":2017,"cited_by_count":3},{"year":2016,"cited_by_count":1},{"year":2015,"cited_by_count":5},{"year":2014,"cited_by_count":2},{"year":2013,"cited_by_count":10},{"year":2012,"cited_by_count":7}],"updated_date":"2026-10-20T09:52:01.089006","created_date":"2016-06-24T00:00:00"}
