English, Article, Journal or magazine article edition: Transfer Programs and Consumption under Alternative Insurance Schemes and Liquidity Constraints Marcelo Bianconi

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Bookmark: http://trove.nla.gov.au/version/200923
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Transfer Programs and Consumption under Alternative Insurance Schemes and Liquidity Constraints
Author
  • Marcelo Bianconi
Physical Description
  • preprint
Notes
  • We consider a dynamic allocation problem under alternative insurance and capital market regimes and proper risk aversion separate from intertemporal substitution. We apply the model to study the effect of one-size-fits-all transfers. We find that one-size-fits-all transfers can have different and diametrically opposed qualitative and quantitative effects on consumption, investment, expected growth of output and consumption and the fair price of insurance of the risky technology. The differences depend upon the regime of insurance to the risky technology, the regime of capital markets and the proper separate measures of risk aversion and intertemporal substitution.
  • Transfers, insurance, liquidity constraint, intertemporal substitution, risk aversion
  • RePEc:tuf:tuftec:0411
Language
  • English
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