When can we do better than autarky?
This paper provides a necessary and sufficient condition for the existence of nonautarkic contract in a risk sharing model with two-sided lack of commitment. Verifying the condition takes just one Guassian elimination of a matrix.
|Date of creation:||Jan 2013|
|Date of revision:||Feb 2013|
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- Ethan Ligon & Jonathan P. Thomas & Tim Worrall, 2002.
"Informal Insurance Arrangements with Limited Commitment: Theory and Evidence from Village Economies,"
Review of Economic Studies,
Oxford University Press, vol. 69(1), pages 209-244.
- Ligon, Ethan & Thomas, Jonathan P & Worrall, Tim, 2002. "Informal Insurance Arrangements with Limited Commitment: Theory and Evidence from Village Economies," Review of Economic Studies, Wiley Blackwell, vol. 69(1), pages 209-44, January.
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- Dirk Krueger & Fabrizio Perri, 2009.
"Public versus Private Risk Sharing,"
NBER Working Papers
15582, National Bureau of Economic Research, Inc.
- Patrick J. Kehoe & Fabrizio Perri, 2000.
"International Business Cycles with Endogenous Incomplete Markets,"
NBER Working Papers
7870, National Bureau of Economic Research, Inc.
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- Patrick J. Kehoe & Fabrizio Perri, 2000. "International business cycles with endogenous incomplete markets," Staff Report 265, Federal Reserve Bank of Minneapolis.
- Chattopadhyay, Subir, 2001. "The unit root property and optimality: a simple proof," Journal of Mathematical Economics, Elsevier, vol. 36(2), pages 151-159, November.
- Lars Ljungqvist & Thomas J. Sargent, 2004. "Recursive Macroeconomic Theory, 2nd Edition," MIT Press Books, The MIT Press, edition 2, volume 1, number 026212274x, June.
- repec:oup:restud:v:69:y:2002:i:1:p:209-44 is not listed on IDEAS
- repec:oup:restud:v:63:y:1996:i:4:p:595-609 is not listed on IDEAS
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