The private memory of aggregate uncertainty

dc.contributorEscolas::EPGE
dc.contributorUniversity of British Columbia
dc.contributorFGV EPGE
dc.creatorCosta, Carlos Eugênio da
dc.creatorLuz, Vitor Farinha
dc.date.accessioned2018-02-01T17:42:16Z
dc.date.accessioned2022-11-03T20:18:46Z
dc.date.available2018-02-01T17:42:16Z
dc.date.available2022-11-03T20:18:46Z
dc.date.created2018-02-01T17:42:16Z
dc.date.issued2012-04-16
dc.identifierhttp://hdl.handle.net/10438/19986
dc.identifier.urihttps://repositorioslatinoamericanos.uchile.cl/handle/2250/5035875
dc.description.abstractWe investigate social insurance in a dynamic Mirrlees' (1971) economy for which each agent's labor market productivity is the product of her stochastic and privately observed ability and an aggregate, publicly observed, stochastic component. The interaction between aggregate and idiosyncratic shocks optimally induces memory of aggregate uncertainty. We show that the optimal allocation depends on previous aggregate shocks when: i preferences are not logarithmic; ii) capital accumulation is possible, or; iii) private type distributions depend on the aggregate state
dc.languageeng
dc.subjectOptimal taxation
dc.subjectAggregate risk
dc.subjectDynamics
dc.subjectAsymmetric information
dc.subjectRisco agregado
dc.subjectTributação ótima
dc.titleThe private memory of aggregate uncertainty
dc.typeArticle (Journal/Review)


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