Asset Returns in an Endogenous Growth Model with Incomplete Markets
نویسندگان
چکیده
منابع مشابه
Asset Returns in an Endogenous Growth Model with Incomplete Markets
This paper analyzes a class of stochastic endogenous growth models with uninsurable idiosyncratic income risk. The model economy is populated by infinitely-lived households who own and operate their own business, work for a stock company, and participate in stock and bond markets. Households have timeand state-additive log-utility preferences and production functions exhibit constant returns to...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2002
ISSN: 1556-5068
DOI: 10.2139/ssrn.315086