FRINK Linked Data Fragments server

Matches in SemOpenAlex for { <https://semopenalex.org/work/W2571079579> ?p ?o ?g. }

• W2571079579 abstract "In the basic model of risk sharing with limited commitment (Kocherlakota, 1996), agents do not have access to any intertemporal storage technology, or, equivalently, all financial transactions are fully observable and contractible. In our model, agents have a private (non-contractible and/or non-observable) storage technology. This does not only aect the value of default, but it also enlarges the set of possible deviations along the equilibrium path. We first study whether and under what conditions the possibility of hidden storage aects the optimal allocation. We find that a necessary condition for it to matter is that income takes more than two values. We then provide an algorithm to solve the model. The main technical diculty of formulating this problem recursively comes from the fact that the Euler equation determining the optimal storage of agents becomes a constraint. Hence, the temporary Pareto weight (or the life-time utility) of an agent is no longer a sucient statistic to summarize the individual history, and the state space needs to be further extended. In terms of economic implications, compared to the original model, this extension implies less risk sharing (more consumption dispersion) and a richer dynamics of consumption. In the light of recent research on these models, both results bring them closer to the data." @default.
• W2571079579 created "2017-01-13" @default.
• W2571079579 creator A5063874818 @default.
• W2571079579 creator A5084039356 @default.
• W2571079579 date "2011-01-01" @default.
• W2571079579 modified "2023-10-16" @default.
• W2571079579 title "Limited Commitment and Hidden Storage VERY PRELIMINARY AND INCOMPLETE" @default.
• W2571079579 cites W1487519931 @default.
• W2571079579 cites W1508560261 @default.
• W2571079579 cites W2011065519 @default.
• W2571079579 cites W2044392985 @default.
• W2571079579 cites W2049512289 @default.
• W2571079579 cites W2053860629 @default.
• W2571079579 cites W2063758111 @default.
• W2571079579 cites W2088336173 @default.
• W2571079579 cites W2100037494 @default.
• W2571079579 cites W2107555721 @default.
• W2571079579 cites W3121137336 @default.
• W2571079579 cites W3123231714 @default.
• W2571079579 cites W3127492790 @default.
• W2571079579 hasPublicationYear "2011" @default.
• W2571079579 type Work @default.
• W2571079579 sameAs 2571079579 @default.
• W2571079579 citedByCount "0" @default.
• W2571079579 crossrefType "journal-article" @default.
• W2571079579 hasAuthorship W2571079579A5063874818 @default.
• W2571079579 hasAuthorship W2571079579A5084039356 @default.
• W2571079579 hasConcept C105795698 @default.
• W2571079579 hasConcept C111919701 @default.
• W2571079579 hasConcept C114614502 @default.
• W2571079579 hasConcept C120665830 @default.
• W2571079579 hasConcept C121332964 @default.
• W2571079579 hasConcept C126255220 @default.
• W2571079579 hasConcept C137635306 @default.
• W2571079579 hasConcept C144024400 @default.
• W2571079579 hasConcept C144237770 @default.
• W2571079579 hasConcept C149782125 @default.
• W2571079579 hasConcept C162324750 @default.
• W2571079579 hasConcept C169611556 @default.
• W2571079579 hasConcept C177264268 @default.
• W2571079579 hasConcept C177562468 @default.
• W2571079579 hasConcept C199360897 @default.
• W2571079579 hasConcept C2524010 @default.
• W2571079579 hasConcept C2776036281 @default.
• W2571079579 hasConcept C2778572836 @default.
• W2571079579 hasConcept C2778599509 @default.
• W2571079579 hasConcept C30772137 @default.
• W2571079579 hasConcept C32848918 @default.
• W2571079579 hasConcept C33923547 @default.
• W2571079579 hasConcept C36289849 @default.
• W2571079579 hasConcept C41008148 @default.
• W2571079579 hasConcept C62520636 @default.
• W2571079579 hasConcept C89128539 @default.
• W2571079579 hasConceptScore W2571079579C105795698 @default.
• W2571079579 hasConceptScore W2571079579C111919701 @default.
• W2571079579 hasConceptScore W2571079579C114614502 @default.
• W2571079579 hasConceptScore W2571079579C120665830 @default.
• W2571079579 hasConceptScore W2571079579C121332964 @default.
• W2571079579 hasConceptScore W2571079579C126255220 @default.
• W2571079579 hasConceptScore W2571079579C137635306 @default.
• W2571079579 hasConceptScore W2571079579C144024400 @default.
• W2571079579 hasConceptScore W2571079579C144237770 @default.
• W2571079579 hasConceptScore W2571079579C149782125 @default.
• W2571079579 hasConceptScore W2571079579C162324750 @default.
• W2571079579 hasConceptScore W2571079579C169611556 @default.
• W2571079579 hasConceptScore W2571079579C177264268 @default.
• W2571079579 hasConceptScore W2571079579C177562468 @default.
• W2571079579 hasConceptScore W2571079579C199360897 @default.
• W2571079579 hasConceptScore W2571079579C2524010 @default.
• W2571079579 hasConceptScore W2571079579C2776036281 @default.
• W2571079579 hasConceptScore W2571079579C2778572836 @default.
• W2571079579 hasConceptScore W2571079579C2778599509 @default.
• W2571079579 hasConceptScore W2571079579C30772137 @default.
• W2571079579 hasConceptScore W2571079579C32848918 @default.
• W2571079579 hasConceptScore W2571079579C33923547 @default.
• W2571079579 hasConceptScore W2571079579C36289849 @default.
• W2571079579 hasConceptScore W2571079579C41008148 @default.
• W2571079579 hasConceptScore W2571079579C62520636 @default.
• W2571079579 hasConceptScore W2571079579C89128539 @default.
• W2571079579 hasLocation W25710795791 @default.
• W2571079579 hasOpenAccess W2571079579 @default.
• W2571079579 hasPrimaryLocation W25710795791 @default.
• W2571079579 hasRelatedWork W1492689276 @default.
• W2571079579 hasRelatedWork W1503734301 @default.
• W2571079579 hasRelatedWork W1992012511 @default.
• W2571079579 hasRelatedWork W1993619966 @default.
• W2571079579 hasRelatedWork W2105026986 @default.
• W2571079579 hasRelatedWork W2130195435 @default.
• W2571079579 hasRelatedWork W213885745 @default.
• W2571079579 hasRelatedWork W2166971746 @default.
• W2571079579 hasRelatedWork W2184946776 @default.
• W2571079579 hasRelatedWork W2561631712 @default.
• W2571079579 hasRelatedWork W2565782874 @default.
• W2571079579 hasRelatedWork W2935220069 @default.
• W2571079579 hasRelatedWork W3122118882 @default.
• W2571079579 hasRelatedWork W3123772983 @default.
• W2571079579 hasRelatedWork W3124806001 @default.
• W2571079579 hasRelatedWork W3125244397 @default.
• W2571079579 hasRelatedWork W3132304794 @default.
• W2571079579 hasRelatedWork W396289604 @default.

• next