| Authors |
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| Publication date |
2006
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| Journal |
Journal of Money, Credit and Banking
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| Volume | Issue number |
38 | 3
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| Pages (from-to) |
837-846
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| Organisations |
-
Faculty of Economics and Business (FEB) - Amsterdam School of Economics Research Institute (ASE-RI)
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| Abstract |
This paper proposes an analytical solution method for a dynamic general equilibrium model with heterogeneous agents and uninsurable idiosyncratic employment shocks. The solution method yields an approximate balanced growth path which depends on the unemployment rate and the unemployment risk, but which is independent of the ever-changing wealth distribution.
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| Document type |
Article
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| Published at |
https://doi.org/10.1353/mcb.2006.0048
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| Published at |
http://muse.jhu.edu/journals/journal_of_money_credit_and_banking/v038/38.3vermeylen.pdf
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