2026-06-02T05:47:06Zhttps://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
It’s a small small welfare cost of fluctuations
Portier, Franck
Puch González, Luis Antonio
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.
2023-06-20T16:39:33Z
2023-06-20T16:39:33Z
2023-06-20T16:39:33Z
2005
technical report
https://hdl.handle.net/20.500.14352/56634
XXXX-XXXX
eng
Documentos de Trabajo del Instituto Complutense de Análisis Económico (ICAE)
open access
Instituto Complutense de Análisis Económico. Universidad Complutense de Madrid