On Risk Induced by Technical Change

Purpose: The purpose of this paper is to analyze the efficiency loss due to incomplete financial markets when risk is induced by technological uncertainty. Design/methodology/approach: A worker-capitalist general equilibrium model is developed. It is assumed that future technical change is a stocha...

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Bibliographic Details
Main Author: Burak Ünveren
Format: Article
Language:English
Published: Eastern Macedonia and Thrace Institute of Technology 2017-03-01
Series:International Journal of Business and Economic Sciences Applied Research
Subjects:
Online Access:http://ijbesar.teiemt.gr/docs/volume10_issue1/risk_induced_technical_change.pdf