linearized incomplete markets model, enriched to incorporate risk- sharing while maintaining tractability. Our estimates suggest … that taking risk sharing into account is important for the model fit; that the increase in inequality in the 1980s was … mainly permanent; and that inequality is driven almost entirely by idiosyncratic income risk. In addition we find no evidence …

results bring new evidence from consumption data on the nature of labor income risk. …

The estimation of the discount rate for an investment project in conditions of risk relies upon two crucial assumptions …-diversified investors in emerging markets, while it is necessary to use a hurdle rate based on the project total risk for the case of non …

preferences. We also prove the arbitrage pricing theorem for a theory of choice under uncertainty by Bewley [1986]. These …

observation, we incorporate inflation risk and default risk to the Mehra and Presscott (1985) dynamic asset pricing model …. Calibration with reasonable parameter values indicate that the inflation risk alone is not sufficient to explain the observed bond …

Modern aggregation theory and index number theory were introduced into monetary economics by Barnett (1980). The widely … used Divisia monetary aggregates were based upon that paper. A key result upon which the rest of the theory depended was … aggregation. The extension of that literature to risk with intertemporally non-separable preferences now has become available in a …