On the interaction between risk sharing and capital accumulation in a stochastic OLG model with production
نویسندگان
چکیده
We analyze the interaction between risk sharing and capital accumulation in a stochastic OLG model with production. We give a complete characterization of interim Pareto optimal competitive equilibrium allocations. Furthermore, we provide tests of Pareto optimality/suboptimality based on (risky) rates of return only. © 2007 Elsevier Inc. All rights reserved. JEL classification: D61; D91; E13; E43
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ورودعنوان ژورنال:
- J. Economic Theory
دوره 137 شماره
صفحات -
تاریخ انتشار 2007