Incentives and Aggregate Shocks
提出一个基于激励的理论，研究在存在总体冲击时消费分布的动态变化，结合不完全保险下的个体与总体消费互动，适用于宏观经济学和微观经济学研究者。
This paper presents an incentive-based theory of the dynamics of the distribution of consumption in the presence of aggregate shocks. The paper builds on the models concerning the distribution of income or consumption and incentive problems of Green (1987), Thomas and Worrall (1991), Phelan and Townsend (1991), and Atkeson and Lucas (1992). By incorporating aggregate production shocks, the model allows an examination of the interactions between individual and aggregate consumption series given incomplete insurance. Further, the methodology outlined allows the incorporation of incentive considerations to macroeconomic environments similar to Rogerson (1988) and Hansen (1985).