Browsing by Subject "D91"

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Browsing by Subject "D91"

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    Title: Sunspots and Multiplicity  Author(s): HOELLE, Matthew Date: 2011-01-01 Type of Publication: Working Paper Series/Report no.: EUI MWP Abstract: This paper proves that a multiplicity of certainty equilibria is not necessary for the existence of sunspot effects in two-period general equilibrium models with incomplete markets. Sunspot effects are present, by definition, ...
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    Title: How Important is Intra-Household Risk Sharing for Savings and Labor Supply?  Author(s): ORTIGUEIRA, Salvador; SIASSI, Nawid Date: 2010-01-01 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: While it is recognized that the family is primarily an institution for risk sharing, little is known about the quantitative effects of this informal source of insurance on savings and labor supply. In this paper, we present ...
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    Title: Social Security and Risk Sharing  Author(s): GOTTARDI, Piero; KUBLER, Felix Date: 2009 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: Social Security and Risk Sharing Piero Gottardi Felix Kubler Abstract In this paper we identify conditions under which the introduction of a pay-as-you-go social security system is ex-ante Pareto-improving in a stochastic ...
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    Title: Incomplete Markets and the Evolution of the US. Consumer Wealth Distribution  Author(s): HINTERMAIER, Thomas; KOENIGER, Winfried Date: 2008 Type of Publication: Working Paper Series/Report no.: EUI MWP Abstract: We use a buffer-stock saving model to explain the evolution of the consumer net-worth distribution in the US between 1983 and 2004. We focus on net-worth up to the 90th percentile due to the well-known problem of matching ...
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    Title: Accounting for the Changing Role of Family Income in Determining College Entry  Author(s): WINTER, Christoph Date: 2007 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: Assessing the importance of borrowing constraints for college entry is key for education policy analysis in the U.S. economy. I present a computable dynamic general equilibrium model with overlapping generations and ...