| 000 | 01466nab a2200241 c 4500 | ||
|---|---|---|---|
| 999 |
_c150219 _d150219 |
||
| 003 | ES-MaIEF | ||
| 005 | 20250206105306.0 | ||
| 007 | ta | ||
| 008 | 250206t2024 xxu||||| |||| 00| 0eng d | ||
| 040 |
_aES-MaIEF _bspa _cES-MaIEF |
||
| 100 |
_950836 _aAguiar, Mark |
||
| 245 | 1 | 0 |
_aMicro risks and (robust) pareto-improving policies _c Mark Aguiar, Manuel Amador, and Cristina Arellano |
| 504 | _aBibliografía. | ||
| 520 | _aWe provide conditions for the feasibility of robust Pareto-improving (RPI) policies when markets are incomplete and the interest rate is below the growth rate. We allow for arbitrary heterogeneity in preferences and income risk and a wedge between the return to capital and bonds. An RPI improves risk sharing and can induce a more efficient level of capital. Elasticities of aggregate savings to changes in interest rates are the crucial ingredients to the feasibility of RPIs. Government debt may complement rather than substitute for capital in an RPI. Our analysis emphasizes the welfare-improving qualities of government bonds versus explicit redistribution. | ||
| 650 | 4 |
_948067 _aPOLITICA FISCAL |
|
| 650 | 4 |
_948219 _aREDISTRIBUCION |
|
| 650 | 4 |
_942647 _aDEUDA PUBLICA |
|
| 650 | 4 |
_933462 _aBONOS |
|
| 700 |
_953722 _aAmador, Manuel |
||
| 700 | 1 |
_972274 _aArellano, Cristina |
|
| 773 | 0 |
_9172778 _oOP 234/2024/11 _tThe American Economic Review _w(IEF)103372 _x 0002-8282 _g v. 114, n.11, November 2024, p. 3669-3713. |
|
| 942 | _cART | ||