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    • The private memory of aggregate shocks 

      Costa, Carlos Eugênio da; Luz, Vitor Farinha (Fundação Getulio Vargas. Escola de Pós-graduação em Economia, 2010-07-10)
      We study constrained efficient aggregate risk sharing and its consequence for the behavior of macro-aggregates in a dynamic Mirrlees’s (1971) setting. Privately observed idiosyncratic productivity shocks are assumed to be ...