goods a country needs to be able to produce to keep inflation low and manageable. In this paper, I use an empirical risk … risk of hyperinflation by improving productive capacity such that its output of critical goods is approximately 174% of …

We study the impact of incomplete consumption risk-sharing on land misallocation in rural economies. We develop a … shocks and insure themselves by participating in a risk-sharing arrangement. Incomplete insurance distorts households … panel data from rural India, we quantify the losses attributable to limited risk-sharing. Completing insurance markets leads …

intensively if its productivity realization is large and curtailed otherwise. Some investment in even the riskiest technologies … monopoly reward. The increases in risk that expand output must be substantial however: a small increase will diminish welfare …

I examine the impact of asymmetry in the productivity jointly with uncertainty shocks on real quantities and asset …-run risk is not sizable …

We analyze whether the timing of public information releases affects risk-sharing and pricing in a pure exchange … results suggesting that early information releases improve risk-sharing, and if the EIS is large enough, they have a negative …

-space approach of Arrow-Debreu. A host of new interesting economic issues emerge. First, risk averse agents can attempt to insure … an open question. Second, one may ask more specifically what is the role of social groups for risk sharing and risk … allocation when agents face idiosyncratic or aggregate risk. Third, does a suitable combination of social group formation and …

differ in their degree of cyclicality, and hence, exposure to aggregate risk, leading to firm-specific risk premia that … total factor productivity (TFP) is endogenous and depends on the resource allocation. The model uncovers a novel tradeoff …