The American Economic Review, Volume 97American Economic Association., 2007 |
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Página 1495
... aggregate consumption , the level of idio- syncratic risk y2 , and the degree to which idio- syncratic risk depends on aggregate risk - the coefficient b . With a random walk in per capita consumption , the welfare gain A is already ...
... aggregate consumption , the level of idio- syncratic risk y2 , and the degree to which idio- syncratic risk depends on aggregate risk - the coefficient b . With a random walk in per capita consumption , the welfare gain A is already ...
Página 1496
... aggregate and idiosyncratic risk . Aggregate Risk ( σ ) FIGURE 2. Welfare Gains with. Gain from Removing Aggregate Risk 0.14 0.12 0.1 0.08 0.06 0.04 0.02 △ ( y2 = 0.12 , b = −0.3 ) Gain from removing 10 % of aggregate risk = 2.6 % A ...
... aggregate and idiosyncratic risk . Aggregate Risk ( σ ) FIGURE 2. Welfare Gains with. Gain from Removing Aggregate Risk 0.14 0.12 0.1 0.08 0.06 0.04 0.02 △ ( y2 = 0.12 , b = −0.3 ) Gain from removing 10 % of aggregate risk = 2.6 % A ...
Página 1499
... aggregate shock , thus moving to a flatter portion toward the origin . Thus , removing aggregate variation results in only very small gains . We now turn to the second point that emerges from the literature : it is an open question how ...
... aggregate shock , thus moving to a flatter portion toward the origin . Thus , removing aggregate variation results in only very small gains . We now turn to the second point that emerges from the literature : it is an open question how ...
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EDMUND S PHELPS | 541 |
O 2 0 2007 | 713 |
ALMA COHEN AND LIRAN EINAV | 745 |
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