Abstract
Dependent background risks which have functional forms are introduced into Lucas economies. This paper determines the conditions on preferences to guarantee the monotonicity of asset prices, when dependent background risks satisfy the monotonicity and the single crossing conditions.
| Original language | English |
|---|---|
| Journal | Economics Bulletin |
| Volume | 4 |
| Issue number | 1 |
| Publication status | Published - 2005 |
| Externally published | Yes |
ASJC Scopus subject areas
- Economics, Econometrics and Finance(all)