2026-06-01T19:44:49Zhttps://docta.ucm.es/rest/oai/requestoai:docta.ucm.es:20.500.14352/566342025-02-17T12:52:00Zcom_20.500.14352_14col_20.500.14352_17
Docta Complutense
author
Portier, Franck
author
Puch González, Luis Antonio
2023-06-20T16:39:33Z
2023-06-20T16:39:33Z
2005
https://hdl.handle.net/20.500.14352/56634
https://www.ucm.es/icae
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.
eng
It’s a small small welfare cost of fluctuations
technical report
URL
https://docta.ucm.es/bitstreams/e71ee668-ec3e-4972-a0e1-b087a23f33a1/download
File
MD5
0dec102e430fc4af49438cd8d904eb35
113740
application/pdf
0513.pdf