The Cost of Business Cycles with Heterogeneous Trading Technologies
نویسندگان
چکیده
منابع مشابه
Heterogeneous Risk Preferences and the Welfare Cost of Business Cycles.
I study the welfare cost of business cycles in a complete-markets economy where some people are more risk averse than others. Relatively more risk-averse people buy insurance against aggregate risk, and relatively less risk-averse people sell insurance. These trades reduce the welfare cost of business cycles for everyone. Indeed, the least risk-averse people benefit from business cycles. Moreov...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2011
ISSN: 1556-5068
DOI: 10.2139/ssrn.1979030