Click here to skip to this page's main content.

New Feature: You can now embed Open Library books on your website!   Learn More
Last edited by Open Library Bot
December 5, 2010 | History

Uninsured idiosyncratic investment risk and aggregate saving 1 edition

Uninsured idiosyncratic investment risk and aggregate saving
Marios Angeletos

No ebook available.


Buy this book

Add an ISBN in order to
link to booksellers


Links (leaves Open Library)

Yikes! There's no description for this book yet. Can you help?
There is only 1 edition record, so we'll show it here...  •  Add edition?

Uninsured idiosyncratic investment risk and aggregate saving
George-Marios Angeletos.

Published 2005 by National Bureau of Economic Research in Cambridge, MA .
Written in English.

About the Book

"This paper augments the neoclassical growth model to study the macroeconomic effects of idiosyncratic investment risk. The general equilibrium is solved in closed form under standard assumptions for preferences and technologies. A simple condition is identified for incomplete markets to result in both a lower interest rate and a lower capital stock in the steady state: the elasticity of intertemporal substitution must be higher than the income share of capital. For plausible calibrations of the model, the reduction in the steady-state levels of aggregate savings and income relative to complete markets is quantitatively significant. Finally, cyclical variation in private investment risks is shown to amplify the transitional dynamics"--National Bureau of Economic Research web site.

Edition Notes

Also available in print.
Includes bibliographical references.
Title from PDF file as viewed on 3/18/2005.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.

Series
NBER working paper series ;, working paper 11180, Working paper series (National Bureau of Economic Research : Online) ;, working paper no. 11180.

Classifications

Library of Congress
HB1

The Physical Object

Format
Electronic resource

ID Numbers

Open Library
OL3477290M
LC Control Number
2005616960

History Created December 10, 2009 · 2 revisions Download catalog record: RDF / JSON

December 5, 2010 Edited by Open Library Bot Added subjects from MARC records.
December 10, 2009 Created by WorkBot add works page