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It’s a small small welfare cost of fluctuations


Portier, Franck y Puch González, Luis A. (2005) It’s a small small welfare cost of fluctuations. [ Documentos de Trabajo del Instituto Complutense de Análisis Económico (ICAE); nº 0513, 2005, ]

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Lucas [1987] has shown that in a representative agent framework, the potential welfare gain from stabilizing consumption around its mean is small. We provide an example and some insight for why Lucas’ measure is an upper bound of the welfare cost of fluctuations in walrasian economies.

Tipo de documento:Documento de trabajo o Informe técnico
Información Adicional:

JEL code: E32, C63, C68

Palabras clave:Cost of Business Cycles, Dynamic General Equilibrium
Materias:Ciencias Sociales > Economía > Econometría
Título de serie o colección:Documentos de Trabajo del Instituto Complutense de Análisis Económico (ICAE)
Código ID:7908

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Depositado:20 May 2008
Última Modificación:06 Feb 2014 07:56

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