Recursive Equilibrium in Endogenous Growth Models with Incomplete Markets

This paper analyzes the existence of recursive equilibria in a class of convex growth models with incomplete markets. Households have identical CRRA-preferences, production displays constant returns to scale with respect to physical and human capital, and all markets are competitive. There are aggre...

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Bibliographic details

Volume:	29
Main Author:	Tom Krebs
Format:	Journal Article
Language:	English
Place of publication:	Berlin/Heidelberg Springer-Verlag 01.11.2006 SPRINGER
published in:	Economic theory Vol. 29; no. 3; pp. 505 - 523
Data of publication:	20061101
ISSN:	0938-2259 1432-0479
EISSN:	1432-0479
Discipline:	Economics
Subjects:	Human capital Market economies Economic theory Endogenous growth theory Incomplete markets Economic growth models Macroeconomic modeling Euler equations Market equilibrium Wealth D52 Economics general G50 Recursive equilibrium Endogenous growth Analysis Economic Theory Economics / Management Science Economics Business & Economics Social Sciences HUMAN-CAPITAL RISK LIFE-CYCLE EXISTENCE INFINITE-HORIZON ECONOMIES recursive equilibrium INCOME DISPLACED WORKERS EARNINGS endogenous growth incomplete markets PRIVATE INFORMATION
Online Access:	Fulltext
Database:	Social Sciences Citation Index Web of Science - Social Sciences Citation Index - 2006 Web of Knowledge Web of Science CrossRef Database information Databases - DBIS