Asset returns in an endogenous growth mo
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Tom Krebs; Bonnie Wilson
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Article
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2004
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Elsevier Science
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English
β 341 KB
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