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Browsing ADEMU Working Papers Series by Subject "Incomplete markets"

Browsing ADEMU Working Papers Series by Subject "Incomplete markets"

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  • Ravn, Morten O.; Sterk, Vincent (2015-07)
    This paper proposes a theory in which aggregate shocks also produce idiosyncratic risk which in turn introduces a demand channel that we argue is relevant for understanding the Great Recession. We study a model in which ...
  • Kapicka, Marek (2017-08)
    I quantify the welfare gains from introducing history dependent income tax in an incomplete markets overlapping generations framework where individuals face uninsurable idiosyncratic shocks. I assume that the income tax ...
  • Ábrahám, Árpád; Cárceles Poveda, Eva (2016-06)
    This paper studies different income tax reforms in an infinite horizon economy with a progressive labor income tax code, incomplete markets and endogenous borrowing constraints on asset holdings. The endogenous limits are ...
  • Hagedorn, Marcus; Manovskii, Iourii; Mitman, Kurt (2018-05)
    We measure the size of the fiscal multiplier using a heterogeneous agents model with incomplete markets, capital and rigid prices and wages. This environment captures all elements that are considered essential for a ...

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