On the interaction between risk sharing and capital accumulation in a stochastic OLG model with production

نویسندگان

  • Martin Barbie
  • Marcus Hagedorn
  • Ashok Kaul
چکیده

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. © 2007 Elsevier Inc. All rights reserved. JEL classification: D61; D91; E13; E43

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عنوان ژورنال:
  • J. Economic Theory

دوره 137  شماره 

صفحات  -

تاریخ انتشار 2007