Change search
CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf
Consumption Risk Sharing with Private Information and Limited Enforcement
Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
Simon Fraser University, Canada .
2015 (English)Report (Other academic)
Abstract [en]

In this paper, we study consumption risk sharing when individual income shocks are persistent and not publicly observable, and individuals can default on contracts at the price of financial autarky. We find that, in contrast to a model where the only friction is limited enforcement, our model has observable implications that are similar to those of an Aiyagari (1994) self-insurance model and therefore broadly consistent with empirical observations. However, some of the implied effects of changes in policy or the economic environment are noticeably different in our model compared to self-insurance.

Place, publisher, year, edition, pages
Prague: Center for Economic Research and Graduate Education – Economics Institute , 2015. , 44 p.
Series
CERGE-EI Working Paper Series, ISSN 1211-3298 ; 531
Keyword [en]
risk sharing, private information, limited enforcement
National Category
Economics
Identifiers
URN: urn:nbn:se:su:diva-140918DOI: 10.2139/ssrn.2585945ISBN: 978-80-7343-336-9 (print)ISBN: 978-80-7344-328-3 (print)OAI: oai:DiVA.org:su-140918DiVA: diva2:1083837
Available from: 2017-03-22 Created: 2017-03-22 Last updated: 2017-05-12

Open Access in DiVA

No full text

Other links

Publisher's full text

Search in DiVA

By author/editor
Broer, TobiasKlein, Paul
By organisation
Institute for International Economic Studies
Economics

Search outside of DiVA

GoogleGoogle Scholar

Altmetric score

Total: 15 hits
CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf