On the fluctuations in consumption and market returns in the presence of labor and human capital: an equilibrium analysis
Article Abstract:
A continuous-time general equilibrium model has been devised and used in studying the impact of human capital on consumption, stock market and other fluctuations. It has been observed that the stock market and total wealth volatilities are no longer equal when human capital exists. This finding is also true for the dividend and consumption volatilities. Human capital volatility has been shown to reduce to conditions on the comovements of aggregate consumption and labor supply in the special case of log utility.
Publication Name: Journal of Economic Dynamics & Control
Subject: Economics
ISSN: 0165-1889
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
Separation cycles
Article Abstract:
Externality effects were derived when the endogenous separation behavior of agents was considered in the assessment of two-sided matching literature with heterogenous agents. Consideration of agents' behavior showed that the composition of singles in a matching market tend to be influenced by the separation decision of two divorced agents. A change in the mean quality of singles in the matching market results to a corresponding change in the value of being unmatched.
Publication Name: Journal of Economic Dynamics & Control
Subject: Economics
ISSN: 0165-1889
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
A model of dynamic asset pricing with heterogenous beliefs and extraneous risk
Article Abstract:
Equilibrium security price dynamics are assessed in an analysis that includes heterogeous beliefs of agents in relation to extraneous risk.
Publication Name: Journal of Economic Dynamics & Control
Subject: Economics
ISSN: 0165-1889
Year: 2000
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Options and impact of China's pension reform: a computable general equilibrium analysis. How will 401(k) pension plans affect retirement income
- Abstracts: The consumption and welfare implications of wage arrears in transition economies. Quasi-geometric discounting: a closed-form solution under the exponential utility function
- Abstracts: Introducing incentives in the market for live and cadaveric organ donations. Corporate governance reforms in continental Europe
- Abstracts: A new look at optimal growth under undertainty. Adaptive control in the presence of time-varying parameters. Efficient representation of state spaces for some dynamic models
- Abstracts: On the optimality of interest rate smoothing. Aggregation and irrelevance in multi-sector models