When is Market Incompleteness Irrelevant for the Price of Aggregate Risk (and when is it not)?
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下载链接：
https://www.nber.org/papers/w12634
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资源简介：
In a standard incomplete markets model with a continuum of households that have constant relative risk aversion (CRRA) preferences, the absence of insurance markets for idiosyncratic labor income risk has no effect on the premium for aggregate risk if the distribution of idiosyncratic risk is
提供机构：
美国国家经济研究局
创建时间：
2006-10-01
