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Inflation-stabilization risk in economies with incomplete asset markets

✍ Scribed by Pablo Andrés Neumeyer

Publisher
Elsevier Science
Year
1998
Tongue
English
Weight
213 KB
Volume
23
Category
Article
ISSN
0165-1889

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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