Krebs, Tom (contributor) - 2004
Welfare Cost of Business Cycles When Markets Are
Incomplete
June, 2004
Tom Krebs
∗
Brown University
†
Abstract
This … Waterman Street, Providence, RI 02912. E-mail: tom krebs@brown.edu
I. Introduction
In a highly influential contribution, Lucas … the non-linearity of the utility function (risk-aversion). However, Krebs (2003a) finds that
this interaction effect tends …