Recursive Utility, Endogenous Growth, and the Welfare Cost of Volatility

Recursive Utility, Endogenous Growth, and the Welfare Cost of Volatility
This paper proposes a measure of the welfare cost of volatitliy derived from an endogenous growth model (AK) under uncertainty extended to the case of a recursive utility function which disentangles risk aversion from intertemporal elasticity of substitution. It encompasses a direct welfare cost of fluctuations and a welfare cost due to the... READ MORE...

Publication date: January 2001
ISBN 9781451842180
$15.00

Add to Cart by clicking price of the language and format you'd like to purchase

Available Languages and Formats

Paperback

Publication date: January 2001

PDF

Publication date: January 2001

ePub

Publication date: January 2001

Mobi

Publication date: January 2001

English