Female labor supply as insurance against idiosyncratic risk
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چکیده
منابع مشابه
The Irrelevance of Market Incompleteness for the Price of Aggregate Risk∗
In models with a large number of agents who have constant relative risk aversion (CRRA) preferences, the absence of insurance markets for idiosyncratic labor income risk has no effect on the premium for aggregate risk if the distribution of idiosyncratic risk is independent of aggregate shocks. In spite of the missing markets, a representative agent who consumes aggregate consumption prices the...
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