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...
| Main Author: | |
|---|---|
| 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 |