Basu, Parantap; Semenov, Andrei; Wada, Kenji - Volkswirtschaftliche Fakultät, … - 2009
Following Kocherlakota and Pistaferri (2009), we consider two forms of incomplete risk sharing in economies with consumer heterogeneity: (a) where agents are unable to insure their consumption against idiosyncratic skill shocks and (b) where idiosyncratic shocks to skills can be partially...