Listagem FGV EPGE - Escola Brasileira de Economia e Finanças por Título "The private memory of aggregate shocks"

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    • The private memory of aggregate shocks 

      Costa, Carlos Eugênio da; Luz, Vitor Farinha
      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 ...

    • The private memory of aggregate shocks 

      Luz, Vitor Farinha
      2009-08-07
      In economies characterized by both aggregate and privately observed idiosyn- cratic risks we show that constrained e¢cient allocations may display non-trivial dependence on aggregate shocks. Using two period versions of ...