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Indivisibilities, Lotteries, and Monetary Exchange

✍ Scribed by Aleksander Berentsen; Miguel Molico; Randall Wright

Book ID
112258088
Publisher
Elsevier Science
Year
2002
Tongue
English
Weight
516 KB
Volume
107
Category
Article
ISSN
0022-0531

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πŸ“œ SIMILAR VOLUMES

Indivisible-labor, lotteries and idiosyn
Indivisible-labor, lotteries and idiosyncratic productivity shocks
✍ Lilia Maliar; Serguei Maliar πŸ“‚ Article πŸ“… 2004 πŸ› Elsevier Science 🌐 English βš– 144 KB

This paper extends the indivisible-labor model by Hansen [J. Monet. Econ. 16 (1985) 309] and Rogerson [J. Monet. Econ. 21 (1988) 3] to include multiple consumers who differ in initial wealth and whose labor productivities are subject to idiosyncratic shocks. In the presence of idiosyncratic uncertai