Stochastic optimal growth with risky labor supply
-
Altmetric Citations
Cai, Yiyong; Kamihigashi, Takashi; Stachurski, John
Description
Production takes time, and labor supply and profit maximization decisions that relate to current production are typically made before all shocks affecting that production have been realized. In this paper we re-examine the problem of stochastic optimal growth with aggregate risk where the timing of the model conforms to this information structure. We provide a set of conditions under which the economy has a unique, nontrivial and stable stationary distribution. In addition, we verify key...[Show more]
Collections | ANU Research Publications |
---|---|
Date published: | 2014 |
Type: | Journal article |
URI: | http://hdl.handle.net/1885/69085 |
Source: | Journal of Mathematical Economics |
DOI: | 10.1016/j.jmateco.2013.08.002 |
Download
Items in Open Research are protected by copyright, with all rights reserved, unless otherwise indicated.
Updated: 17 November 2022/ Responsible Officer: University Librarian/ Page Contact: Library Systems & Web Coordinator