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Browsing ECO Working Papers by Subject "Limited Commitment"
Now showing items 1-2 of 2
Title:Financial Markets as a Commitment Device for the Government
Author(s):SIMON, JennyDate:2012Type of Publication:Working PaperSeries/Report no.:EUI MWPAbstract:How does the presence of financial markets shape the government's ability to implement social redistribution? Individuals do not typically constrain consumption to equal their net-of-tax income every period. Instead, access ...
Title:Stationary Equilibrium Distributions in Economies with Limited Commitment
Author(s):BROER, TobiasDate:2009Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:Limited commitment to contracts can explain imperfect risk sharing even when individuals have access to complete insurance markets. Past contributions have focused on the resulting cross-sectional distribution of consumption ...