Volatility and welfare

DOI10.1016/j.jedc.2013.08.012zbMath1402.91471OpenAlexW2093321605MaRDI QIDQ1994296

Robert Lester, Eric R. Sims, Michael J. Pries

Publication date: 1 November 2018

Published in: Journal of Economic Dynamics \& Control (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.jedc.2013.08.012

zbMATH Keywords

volatilitywelfare cost of business cycles

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64) Economic growth models (91B62) Welfare economics (91B15)

Related Items (7)

Predetermined interest rates in an analytical RBC model ⋮ Volatility risk and economic welfare ⋮ Stochastic accumulation of human capital and welfare in the Uzawa-Lucas model: an analytical characterization ⋮ Are all economic fluctuations bad for consumers? ⋮ Variable effort, business cycles, and economic welfare ⋮ The implication of subsistence consumption for economic welfare ⋮ Welfare effects of business cycles and monetary policies in a small open emerging economy

Cites Work

• Solving dynamic general equilibrium models using a second-order approximation to the policy function
• Comparing solution methods for dynamic equilibrium economies
• Demand shocks and economic fluctuations
• The Impact of Uncertainty Shocks
• Consumer Demand and the Life-Cycle Allocation of Household Expenditures
• Substitution, Risk Aversion, and the Temporal Behavior of Consumption and Asset Returns: A Theoretical Framework

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