On the Welfare Costs of Consumption Uncertainty
收藏NBER2006-12-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w12763
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资源简介：
Satisfactory calculations of the welfare cost of aggregate consumption uncertainty require a framework that replicates major features of asset prices and returns, such as the high equity premium and low risk-free rate. A Lucas-tree model with rare but large disasters is such a framework. In a
提供机构：
美国国家经济研究局
创建时间：
2006-12-01
