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Recursive Utility, Endogenous Growth, and the Welfare Cost of Volatility1

Recursive Utility, Endogenous Growth, and the Welfare Cost of Volatility1 »

Source: Recursive Utility, Endogenous Growth, and the Welfare Cost of Volatility

Volume/Issue: 2001/5

Series: IMF Working Papers

Author(s): Aude Pommeret , and Anne Epaulard

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2001

ISBN: 9781451842180

Keywords: Welfare Cost of Fluctuations, Recursive Utility, Endogenous Growth, Risk, elasticity of substitution, growth rate, business cycles, growth model, Macroeconomic Policy, Macroeconomic Aspects of Public Finance

This paper proposes a measure of the welfare cost of volatitliy derived from an endogenous growth model (AK) under uncertainty extended to the case of a recursive utility function which disentangles risk aversion f...

Recursive Utility, Endogenous Growth, and the Welfare Cost of Volatility

Recursive Utility, Endogenous Growth, and the Welfare Cost of Volatility »

Volume/Issue: 2001/5

Series: IMF Working Papers

Author(s): Aude Pommeret , and Anne Epaulard

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2001

DOI: http://dx.doi.org/10.5089/9781451842180.001

ISBN: 9781451842180

Keywords: Welfare Cost of Fluctuations, Recursive Utility, Endogenous Growth, Risk, elasticity of substitution, growth rate, business cycles, growth model, Macroeconomic Policy, Macroeconomic Aspects of Public Finance

This paper proposes a measure of the welfare cost of volatitliy derived from an endogenous growth model (AK) under uncertainty extended to the case of a recursive utility function which disentangles risk aversion f...