RT Report
T1 It’s a small small welfare cost of fluctuations
A1 Portier, Franck
A1 Puch González, Luis Antonio
AB 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.
PB Instituto Complutense de Análisis Económico. Universidad Complutense de Madrid
YR 2005
FD 2005
LK https://hdl.handle.net/20.500.14352/56634
UL https://hdl.handle.net/20.500.14352/56634
LA eng
DS Docta Complutense
RD 22 abr 2025