Idiosyncratic Production Risk, Growth, and the Business Cycle
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We introduce a neoclassical growth economy with idiosyncratic production risk and incomplete markets. Each agent is an entrepreneur operating her own neoclassical technology with her own capital stock. The general equilibrium is characterized in closed form. Idiosyncratic production shocks introduce
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美国国家经济研究局创建时间：
2003-06-01
