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dc.contributor.authorAcemoglu, Daron
dc.contributor.authorJensen, Martin Kaae
dc.date.accessioned2012-07-03T23:14:20Z
dc.date.available2012-07-03T23:14:20Z
dc.date.issued2012-06-14
dc.identifier.urihttp://hdl.handle.net/1721.1/71535
dc.description.abstractWe consider infinite horizon economies populated by a continuum of agents who are subject to idiosyncratic shocks. This framework contains models of saving and capital accumulation with incomplete markets in the spirit of works by Bewley, Aiyagari, and Huggett, and models of entry, exit and industry dynamics in the spirit of Hopenhayn's work as special cases. Robust and easy-to-apply comparative statics results are established with respect to exogenous parameters as well as various kinds of changes in the Markov processes governing the law of motion of the idiosyncratic shocks. These results complement the existing literature which uses simulations and numerical analysis to study this class of models and are illustrated using a number of examples.en_US
dc.publisherCambridge, MA: Department of Economics,Massachusetts Institute of Technologyen_US
dc.relation.ispartofseriesWorking paper, Massachusetts Institute of Technology, Dept. of Economics;12-17
dc.rightsAn error occurred on the license name.en
dc.rights.uriAn error occurred getting the license - uri.en
dc.subjectBewley-Aiyagari modelsen_US
dc.subjectuninsurable idiosyncratic risken_US
dc.subjectinfinite horizon economiesen_US
dc.subjectcomparative staticsen_US
dc.titleRobust Comparative Statics in Large Dynamic Economiesen_US
dc.typeWorking Paperen_US


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