capitalists and workers, we show that a higher degree of relative risk aversion can destabilize an economy. In traditional real … business cycle (RBC) theory, a higher degree of relative risk aversion dampens the amplitude of the consumption fluctuations … caused by exogenous shocks through consumption smoothing. However, a higher degree of relative risk aversion combined with a …

capitalists and workers, we show that a higher degree of relative risk aversion can destabilize an economy. In traditional real … business cycle (RBC) theory, a higher degree of relative risk aversion dampens the amplitude of the consumption fluctuations … caused by exogenous shocks through consumption smoothing. However, a higher degree of relative risk aversion combined with a …

This paper reexamines the question of gender differences in financial relative risk aversion using updated methods and … aversion; however, contrary to the 1998 findings, there is no significant gender difference in financial relative risk aversion … individual gendered behavior. Following the refinements, the new tests reveal a continuing pattern of decreasing relative risk …

therefore the stochastic discount factor for the constant relative risk aversion utility as described in the marginal rate of …