Fiscal policy and debt management with incomplete markets
A Ramsey planner chooses a distorting tax on labor and manages a portfolio of securities in
an economy with incomplete markets. We develop a method that uses second order …
an economy with incomplete markets. We develop a method that uses second order …
Uninsured idiosyncratic risk and aggregate saving
SR Aiyagari - The Quarterly Journal of Economics, 1994 - academic.oup.com
We present a qualitative and quantitative analysis of the standard growth model modified to
include precautionary saving motives and liquidity constraints. We address the impact on the …
include precautionary saving motives and liquidity constraints. We address the impact on the …
[كتاب][B] Recursive methods in economic dynamics
NL Stokey, RE Lucas Jr - 1989 - books.google.com
Three eminent economists provide in this book a rigorous, self-contained treatment of
modern economic dynamics. Nancy L. Stokey, Robert E. Lucas, Jr., and Edward C. Prescott …
modern economic dynamics. Nancy L. Stokey, Robert E. Lucas, Jr., and Edward C. Prescott …
[كتاب][B] Dynamic asset pricing theory
D Duffie - 2010 - books.google.com
This is a thoroughly updated edition of Dynamic Asset Pricing Theory, the standard text for
doctoral students and researchers on the theory of asset pricing and portfolio selection in …
doctoral students and researchers on the theory of asset pricing and portfolio selection in …
Envelope theorems for arbitrary choice sets
The standard envelope theorems apply to choice sets with convex and topological structure,
providing sufficient conditions for the value function to be differentiable in a parameter and …
providing sufficient conditions for the value function to be differentiable in a parameter and …
[كتاب][B] Recursive macroeconomic theory
L Ljungqvist, TJ Sargent - 2018 - books.google.com
The substantially revised fourth edition of a widely used text, offering both an introduction to
recursive methods and advanced material, mixing tools and sample applications. Recursive …
recursive methods and advanced material, mixing tools and sample applications. Recursive …
Debt dynamics
We develop a dynamic trade‐off model with endogenous choice of leverage, distributions,
and real investment in the presence of a graduated corporate income tax, individual taxes …
and real investment in the presence of a graduated corporate income tax, individual taxes …
Money and interest in a cash-in-advance economy
RE Lucas Jr, NL Stokey - 1985 - nber.org
In this paper we analyze an aggregative general equilibrimi model in which the use of
money is motivated by a cash-in-advance constraint, applied to purchases of a subset of …
money is motivated by a cash-in-advance constraint, applied to purchases of a subset of …
Self-enforcing wage contracts
We examine long-term wage contracts between a risk-neutral firm and a risk-averse worker
when both can costlessly renege and buy or sell labour at a random spot market wage. A …
when both can costlessly renege and buy or sell labour at a random spot market wage. A …
Computation and multiplicity of equilibria
Publisher Summary In recent years the Walrasian general equilibrium model has become
an important tool for applied work in such fields as development economics, international …
an important tool for applied work in such fields as development economics, international …