Excel Sheet for "Consumption With Uncertainty and Financial Markets for Insurance"
We introduce insurance markets, allowing the consumer to allocate across states (but not time). The results can be compared to the benchmark in Part III to show how insurance can improve economic wellbeing. We can also explore conditions under which consumers will choose to insure, and how insurance may substitute for saving in some circumstances. The model is described in Guo and Gilbert (2014) "Demystifying Financial Markets for Saving and Insurance With Numerical Models" Journal of Economic Education.
|Date of creation:||30 Sep 2013|
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