Clemens, Christiane; Heinemann, Maik: Endogenous Growth, the Distribution of Wealth, and Optimal Policy under Incomplete Markets and Idiosyncratic Risk. In: . Jg.01-2012. 2012, S. 32 ff.
Inhalt
- Introduction
- The Model
- Overview: Equilibrium Growth and Complete Markets
- Idiosyncratic Risks and Incomplete Markets
- Balanced Growth and General Equilibrium
- Numerical Simulations
- Calibration
- Measuring Welfare
- Macroeconomic Effects of Rising Idiosyncratic Risk
- Debt Limits and Growth
- Growth Policy
- Conclusion
- Appendix
- Proof of 1. and 2. of Proposition 1
- Illustration of nonexistence of a balanced growth equilibrium in the case < 1
- Transitional Dynamics