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Efficient Risk Sharing under Limited Commitment and Search Frictions
https://doi.org/10.24545/00001512
https://doi.org/10.24545/00001512aa9e923a-7a1a-4988-9c58-6655dd542194
| 名前 / ファイル | ライセンス | アクション |
|---|---|---|
DP16-15.pdf (411.9 kB)
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| Item type | ディスカッションペーパー / Discussion Paper(1) | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 公開日 | 2016-09-08 | |||||||||
| タイトル | ||||||||||
| タイトル | Efficient Risk Sharing under Limited Commitment and Search Frictions | |||||||||
| 言語 | en | |||||||||
| 言語 | ||||||||||
| 言語 | eng | |||||||||
| キーワード | ||||||||||
| 主題Scheme | Other | |||||||||
| 主題 | dynamic contract | |||||||||
| キーワード | ||||||||||
| 主題Scheme | Other | |||||||||
| 主題 | limited commitment | |||||||||
| キーワード | ||||||||||
| 主題Scheme | Other | |||||||||
| 主題 | labor search and matching | |||||||||
| 資源タイプ | ||||||||||
| 資源タイプ | technical report | |||||||||
| ID登録 | ||||||||||
| ID登録 (DOI) | 10.24545/00001512 | |||||||||
| ID登録タイプ | JaLC | |||||||||
| 著者 |
FUJIMOTO, Junichi
× FUJIMOTO, Junichi
× LEE, Junsang
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| 著者別名 | ||||||||||
| 識別子Scheme | WEKO | |||||||||
| 識別子 | 8214 | |||||||||
| 姓名 | 藤本, 淳一 | |||||||||
| 言語 | ja | |||||||||
| 著者所属 | ||||||||||
| 値 | 政策研究大学院大学 / National Graduate Institute for Policy Studies | |||||||||
| 著者所属 | ||||||||||
| 値 | Sungkyunkwan University | |||||||||
| 抄録 | ||||||||||
| 内容記述タイプ | Abstract | |||||||||
| 内容記述 | This paper examines efficient risk sharing under limited commitment and searchfrictions. The model features a social planner and a continuum of risk-averseworkers, where the planner is able to provide consumption only to workers matchedwith the planner and faces an aggregate resource constraint, while workers can walkaway from the match in any period and search for a new match. The formation ofnew matches and the exogenous destruction of existing ones substantially expandthe set of feasible stationary allocations, providing a role for the social welfarefunction. In the benchmark case of the Benthamite social welfare function, wefind that the efficient stationary allocation exhibits novel consumption dynamics:Consumption begins at a relatively low level, converges toward a certain level whenthe participation constraint is slack, and jumps up when it binds. We then explorethe role of limited commitment in generating such rich consumption dynamics. | |||||||||
| 内容記述 | ||||||||||
| 内容記述タイプ | Other | |||||||||
| 内容記述 | JEL Classification Codes: D86, E21, E24, J64 | |||||||||
| 内容記述 | ||||||||||
| 内容記述タイプ | Other | |||||||||
| 内容記述 | First Version: January 2011 | |||||||||
| 内容記述 | ||||||||||
| 内容記述タイプ | Other | |||||||||
| 内容記述 | This is a substantially revised and refocused version of an earlier paper titled “Closing Labor Search and Matching Models in Contractual Environments.” | |||||||||
| 内容記述 | ||||||||||
| 内容記述タイプ | Other | |||||||||
| 内容記述 | This research was supported by Grants-in-Aid for Scientific Research of the JSPS (Kakenhi No. 23730187 and No. 26780114) and the Japan Economic Research Foundation. | |||||||||
| 発行年 | ||||||||||
| 値 | 2016-09 | |||||||||
| 書誌情報 |
en : GRIPS Discussion Papers Report No. DP16-15, 発行日 2016-09-08 |
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| 出版者 | ||||||||||
| 出版者 | GRIPS Policy Research Center | |||||||||
| 言語 | en | |||||||||
| 関連サイト | ||||||||||
| 関連タイプ | isIdenticalTo | |||||||||
| 識別子タイプ | URI | |||||||||
| 関連識別子 | https://ideas.repec.org/p/ngi/dpaper/16-15.html | |||||||||
| 関連名称 | https://ideas.repec.org/p/ngi/dpaper/16-15.html | |||||||||
| 著者情報 | ||||||||||
| 内容記述タイプ | Other | |||||||||
| 内容記述 | https://www.grips.ac.jp/list/jp/facultyinfo/fujimoto-junichi/ | |||||||||
| 著者版フラグ | ||||||||||
| 出版タイプ | AM | |||||||||
| 出版タイプResource | http://purl.org/coar/version/c_ab4af688f83e57aa | |||||||||
