more attractive for social insurance if a larger part of risk is realized in the first period of the life-cycle. Our …

of years spent in retirement” are characterized by constant or decreasing absolute risk aversion. A similar result …

more attractive for social insurance if a larger part of risk is realized in the first period of the life-cycle. Our …

of years spent in retirement” are characterized by constant or decreasing absolute risk aversion. A similar result …

with the Arrow/Romer approach to endogenous growth to analyze the interaction of risk, growth, and inequality, the latter …. Major results include that growth, inequality, and risk are positively related in our model, but we also identify a hump …–shaped relationship between welfare and risk, indicating a tradeoff relationship between risk–pooling and growth in the determination of …

role of learning and risk aversion. It bridges two strands of literature: one focused on the role learning for the success … of IEA formation when countries are risk neutral and another that explores the implications of uncertainty and risk … aversion on IEA formation under no learning. Combining learning and risk aversion seems appropriate as the uncertainties …