Risk Sharing in Private Information Models with Asset Accumulation: Explaining the Excess Smoothness of Consumption
收藏NBER2007-03-01 更新2025-01-04 收录
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https://www.nber.org/papers/w12994
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资源简介：
We derive testable implications of model in which first best allocations are not achieved because of a moral hazard problem with hidden saving. We show that in this environment agents typically achieve more insurance than that obtained under autarchy via saving, and that consumption allocation gives
提供机构：
美国国家经济研究局
创建时间：
2007-03-01
