Incomplete Market Dynamics in a Neoclassical Production Economy
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We investigate a neoclassical economy with heterogeneous agents, convex technologies and idiosyncratic production risk. Combined with precautionary savings, investment risk generates rich effects that do not arise in the presence of pure endowment risk. Under a finite horizon, multiple growth paths
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美国国家经济研究局创建时间：
2004-12-01
