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Pooling and endogenous market incompleteness

✍ Scribed by Alessandro Citanna; Antonio Villanacci

Publisher
Springer
Year
2004
Tongue
English
Weight
156 KB
Volume
24
Category
Article
ISSN
0938-2259

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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 inΓΏnitely-lived households who own and operate their own business, work for a stock company, and participate in stock and bond markets. Households have log