The DOI matches its Crossref record.
Cost of Business Cycles with Indivisibilities and Liquidity Constraints
Abstract
It is almost universally agreed that individuals face incomplete insurance markets and cannot perfectly insure against the idiosyncratic risk. In this paper simple general equilibrium models with incomplete insurance markets are examined in order to assess the impact of imperfect insurance on the magnitude of the welfare costs of business cycles. Two versions of incomplete insurance markets are considered, and certain statistical properties of the equilibrium stochastic processes in these environments are compared with those of a perfect insurance economy.
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Citations
Cited by
Relative Wage Movements and the Distribution of Consumption
Attanasio, O., & Davis, S. J. (1996) · Journal of Political Economy · doi:10.1086/262058 · Cited by 448
CENTRAL BANK POLICIES AND INCOME AND WEALTH INEQUALITY: A SURVEY
Colciago, A., Samarina, A., & de Haan, J. (2019) · Journal of Economic Surveys · doi:10.1111/joes.12314 · Cited by 284
Cross-sectional facts for macroeconomists
Krueger, D., Perri, F., Pistaferri, L., & Violante, G. L. (2010) · Review of Economic Dynamics · doi:10.1016/j.red.2009.12.001 · Cited by 216
Cross Sectional Facts for Macroeconomists
Krueger, D., Perri, F., Pistaferri, L., & Violante, G. (2009) · doi:10.3386/w15554 · Cited by 45
Metadata
- Authors
- Imrohoroğlu, A.
- Venue
- Journal of Political Economy
- Publisher
- University of Chicago Press
- Published
- 1989-12
- Volume
- 97
- Issue
- 6
- Pages
- 1364-1383
- ISSN
- 0022-3808 (ISSN-L)
- 1537-534X
- OpenAlex
- W2107958788
- Cited by
- 501
- References
- 0
- FWCI
- 6.59
- Type
- journal article
- Language
- en
- Open access
- closed
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- Imrohoroğlu, A. (1989). Cost of Business Cycles with Indivisibilities and Liquidity Constraints. Journal of Political Economy. https://doi.org/10.1086/261658
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Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
