Constrained efficiency in the neoclassical growth model with uninsurable idiosyncratic shocks

DOI10.3982/ECTA5989MaRDI QIDQ2859541zbMATH OpenOpenAlexFDO

Authors Julio Dávila, Jay H. Hong, Per Krusell, José-Víctor Ríos-Rull

Publication date 8 November 2013

Published in Econometrica (Search for Journal in Brave)

Full work available at URL https://doi.org/10.3982/ecta5989

zbMATH Keywords

constrained efficiencyuninsurable shocks

Mathematics Subject Classification ID

Economic growth models (91B62)

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• Self-insurance vs. self-financing: a welfare analysis of the persistence of shocks
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• A re-examination of constrained Pareto inefficiency in economies with incomplete markets
• Consumption taxes and precautionary savings

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