Asset returns in an endogenous growth mo
✍
Tom Krebs; Bonnie Wilson
📂
Article
📅
2004
🏛
Elsevier Science
🌐
English
⚖ 341 KB
This paper analyzes a class of stochastic endogenous growth models with uninsurable idiosyncratic income risk. The model economy is populated by inÿnitely-lived households who own and operate their own business, work for a stock company, and participate in stock and bond markets. Households have log