基本信息
文件名称:宏观济理论讲座9 zhao bo ccerpku春季课件lecture9.pdf
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文档摘要

Introduction

Inthecompletemarketmodel,householdscanpurchase

state-contingentArrow-DebreuSecuritiestoinsureagainstindividual

risksandenjoyperfectriskingsharing.

Ifweobserveallocationsfromcompletemarketmodelandrunthe

followingregres