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Competitive risk sharing contracts with one-sided commitment
Krueger, Dirk (contributor); Uhlig, Harald (contributor) - 2005
Persistent link: https://www.econbiz.de/10003350788
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Evaluation asset pricing models with limited commitment using household consumption data
Krueger, Dirk (contributor); Lustig, Hanno (contributor);  … - 2006
Persistent link: https://www.econbiz.de/10003376995
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Evaluating asset pricing models with limited commitment using household consumption data
Krueger, Dirk; Lustig, Hanno; Perri, Fabrizio - 2007
"We evaluate the asset pricing implications of a class of models in which risk sharing is imperfect because of limited enforcement of intertemporal contracts. Lustig (2004) has shown that in such a model the asset pricing kernel can be written as a simple function of the aggregate consumption...
Persistent link: https://www.econbiz.de/10003653413
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Competitive risk sharing contracts with one-sided commitment
Uhlig, Harald (contributor); Krueger, Dirk (contributor) - 2005
given period, after having observed her income, the agent can walk away from the contract, while the intermediary cannot, i … can be provided because in an equilibrium contract an up-front payment effectively locks in the agent with an intermediary …. We then show that our contract economy is equivalent to a consumption-savings economy with one-period Arrow securities …
Persistent link: https://www.econbiz.de/10003035794
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Competitive risk sharing contracts with one-sided commitment
Krueger, Dirk; Uhlig, Harald - 2003
Persistent link: https://www.econbiz.de/10001852688
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Evaluating Asset Pricing Models with Limited Commitment Using Household Consumption Data
Krueger, Dirk - 2007
We evaluate the asset pricing implications of a class of models in which risk sharing is imperfect because of limited enforcement of intertemporal contracts. Lustig (2004) has shown that in such a model the asset pricing kernel can be written as a simple function of the aggregate consumption...
Persistent link: https://www.econbiz.de/10012775482
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Evaluating Asset Pricing Models with Limited Commitment using Household Consumption Data
Krueger, Dirk - 2007
We evaluate the asset pricing implications of a class of models in which risk sharing is imperfect because of limited enforcement of intertemporal contracts. Lustig (2004) has shown that in such a model the asset pricing kernel can be written as a simple function of the aggregate consumption...
Persistent link: https://www.econbiz.de/10012464989
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Competitive Risk Sharing Contracts with One-Sided Commitment
Krueger, Dirk - 2003
given period, after having observed her income, the agent can walk away from the contract, while the intermediary cannot, i … intermediaries. Insurance can be provided because in an equilibrium contract an up-front payment effectively locks in the agent with … an intermediary. We then show that our contract economy is equivalent to a consumption-savings economy with one …
Persistent link: https://www.econbiz.de/10012468559
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Neoclassical Growth with Long-Term One-Sided Commitment Contracts
Krueger, Dirk; Uhlig, Harald - 2022
- utility we provide a complete analytical characterization of the optimal consumption insurance contract, the stationary …
Persistent link: https://www.econbiz.de/10014077086
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Neoclassical growth with long-term one-sided commitment contracts
Krueger, Dirk; Uhlig, Harald - 2022
-utility we provide a complete analytical characterization of the optimal consumption insurance contract, the stationary …
Persistent link: https://www.econbiz.de/10013555536