Article ID Journal Published Year Pages File Type
957072 Journal of Economic Theory 2007 20 Pages PDF
Abstract
We analyze the interaction between risk sharing and capital accumulation in a stochastic OLG model with production. We give a complete characterization of interim Pareto optimal competitive equilibrium allocations. Furthermore, we provide tests of Pareto optimality/suboptimality based on (risky) rates of return only.
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Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
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On the interaction between risk sharing and capital accumulation in a stochastic OLG model with production
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