What is the effect of non-tradeable idiosyncratic risk on asset-market risk premiums? Constantinides and Duffie (1996) and Mankiw (1986) have shown that risk premiums will increase if the idiosyncratic shocks become more volatile during economic contractions. We add two important ingredients to...

This article presents a novel computational approach to solving models with both uninsurable idiosyncratic and aggregate risk that uses projection methods, simulation and perturbation. The approach is shown to be both as efficient and as accurate as existing methods on a model based on Krusell...

I show that, due to imperfect risk sharing, aggregate shocks to uncertainty about idiosyncratic return on investment generate economic contractions with elevated risk premia and a decrease in the risk-free rate. I present a tractable real business cycle model in which firms experience...

The article deals with the problem of West European and Nordic countries small economies as well as ultra-small autonomous territories of Alands and Faeroes island's development. The latter are considered as the <<competitive sub-peripheries> areas due to the special industrial organization development, stimulated by the...</<competitive>

Part I. Theoretical Outline -- Chapter 1. Introduction -- Chapter 2. The Digital Transformation as a starting point -- Chapter 3. The approach of the Freiburg School and why it is particularly useful now -- Part II. An Order Challenger -- Chapter 4. A functioning price system -- Chapter 5....