Browsing ADEMU Working Papers Series by Subject "Risk sharing"

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Quantifying the welfare gains from history dependent income taxation

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 ...
Risk-sharing and contagion network

Cabrales, Antonio; Gottardi, Piero; Vega-Redondo, Fernando (2016)

We investigate the properties of financial networks that allow to optimally solve the trade-off between higher risk-sharing and contagion. With continuous shock distributions, the optimum features the segmentation of the ...
Sovereign debt and structural reforms

Müller, Andreas; Storesletten, Kjetil; Zilibotti, Fabrizio (2016-09)

We construct a dynamic theory of sovereign debt and structural reforms with three interacting frictions: limited enforcement, limited commitment, and incomplete markets. A sovereign country in recession issues debt to ...

Now showing items 1-3 of 3

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