Volatility and welfare

DOI10.1016/J.JEDC.2013.08.012MaRDI QIDQ1994296zbMATH OpenOpenAlexFDO

Authors Robert Lester, Eric R. Sims, Michael J. Pries

Publication date 1 November 2018

Published in Journal of Economic Dynamics and Control (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/j.jedc.2013.08.012

zbMATH Keywords

volatilitywelfare cost of business cycles

Mathematics Subject Classification ID

Welfare economics (91B15) Economic growth models (91B62) Macroeconomic theory (monetary models, models of taxation) (91B64)

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Cites work

• Comparing solution methods for dynamic equilibrium economies
• Consumer Demand and the Life-Cycle Allocation of Household Expenditures
• Demand shocks and economic fluctuations
• Solving dynamic general equilibrium models using a second-order approximation to the policy function
• Substitution, Risk Aversion, and the Temporal Behavior of Consumption and Asset Returns: A Theoretical Framework
• The Impact of Uncertainty Shocks

Cited in

(10)

• Predetermined interest rates in an analytical RBC model
• Volatility risk and economic welfare
• Interpreting volatility shocks as preference shocks
• The implication of subsistence consumption for economic welfare
• Welfare effects of business cycles and monetary policies in a small open emerging economy
• Variable effort, business cycles, and economic welfare
• Stochastic accumulation of human capital and welfare in the Uzawa-Lucas model: an analytical characterization
• WELFARE GAINS FROM STABILIZATION IN A STOCHASTICALLY GROWING ECONOMY WITH IDIOSYNCRATIC SHOCKS AND FLEXIBLE LABOR SUPPLY
• Are all economic fluctuations bad for consumers?
• Volatility, growth, and welfare

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