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Assets return in an endogenous growth model with incomplete markets

Article Abstract:

A class of stochastic endogenous growth models with uninsurable idiosyncratic income risk is analyzed. The asset return implications of a calibrated model economy with an individual income process that displays realistic variations in idiosyncratic income risk are discussed.

Author: Krebs, Tom, Wilson, Bonnie

Publisher: Elsevier B.V.
Publication Name: Journal of Economic Dynamics & Control
Subject: Economics
ISSN: 0165-1889
Year: 2004

United States, Analysis, Personal income

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Military spending and stochastic growth

Article Abstract:

The authors find that military spending can cause economic growth in volatile situations.

Author: Gong, Liutang, Zou, Heng-fu

Publisher: Elsevier B.V.
Publication Name: Journal of Economic Dynamics & Control
Subject: Economics
ISSN: 0165-1889
Year: 2003

China, National Security, Defense Administration & Finance, Economic aspects, Defense spending, Defence spending

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Subjects list: Models, Economic development

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