Browsing Department of Economics (ECO) by Author "KUBLER, Felix"

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Title: Dynamic Competitive Economies with Complete Markets and Collateral Constraints Author(s): GOTTARDI, Piero; KUBLER, Felix Date: 2012 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: In this paper we examine the competitive equilibria of a dynamic stochastic economy with complete markets and collateral constraints. We show that, provided both the set of asset payoffs and collateral levels are sufficiently ...
Title: Social Security and Risk Sharing Author(s): GOTTARDI, Piero; KUBLER, Felix Date: 2011-01-01 Type of Publication: Article 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 OLG economy with capital accumulation and land. We argue that these ...
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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