Micro Risks and (Robust) Pareto Improving Policies
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We provide sufficient conditions for the feasibility of robust Pareto-improving (RPI) fiscal policies in the class of incomplete markets models of Bewley-Huggett-Aiyagari and when the interest rate on government debt is below the growth rate (r < g). We allow for arbitrary heterogeneity in
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美国国家经济研究局创建时间:
2021-07-01



