Incomplete-market dynamics in a neoclassical production economy

DOI10.1016/J.JMATECO.2004.09.005MaRDI QIDQ2387401zbMATH OpenOpenAlexFDO

Authors George-Marios Angeletos, Laurent E. Calvet

Publication date 2 September 2005

Published in Journal of Mathematical Economics (Search for Journal in Brave)

Full work available at URL http://www.nber.org/papers/w11016.pdf

zbMATH Keywords

Endogenous fluctuationsEntrepreneurial riskPoverty trapsPrecautionary motive

Mathematics Subject Classification ID

Auctions, bargaining, bidding and selling, and other market models (91B26) Economic growth models (91B62)

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Cites work

• An exact discount factor restriction for period-three cycles in dynamic optimization models
• Competitive chaos
• Dualism and Macroeconomic Volatility
• Equilibrium asset prices with undiversifiable labor income risk
• Human Capital Risk and Economic Growth
• Income Distribution and Macroeconomics
• Incomplete markets and volatility
• Indeterminacy and increasing returns
• On Endogenous Competitive Business Cycles
• On the indeterminacy of capital accumulation paths
• On the least upper bound of discount factors that are compatible with optimal period-three cycles
• On the minimum rate of impatience for complicated optimal growth paths
• Risk-Bearing and the Theory of Income Distribution
• The Hopf bifurcation and the existence and stability of closed orbits in multisector models of optimal economic growth

Cited in

(8)

• Huggett economies with multiple stationary equilibria
• Risk pooling, intermediation efficiency, and the business cycle
• Core concepts for incomplete market economies
• Incomplete market dynamics and cross-sectional distributions
• Neoclassical Theory Versus Prospect Theory: Evidence from the Marketplace
• Markov distributional equilibrium dynamics in games with complementarities and no aggregate risk
• Recent advances on uniqueness of competitive equilibrium
• The wealth distribution in Bewley economies with capital income risk

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