Browsing MWP Working Papers by Subject "D91"

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Browsing MWP Working Papers 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: 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 ...