Christiane Clemens

  • Citations Per Year
Learn More
This study investigated the rates of severe substance misuse, severe emotional disturbance, and dual diagnosis in a meal-line population of mixed ethnicity, 75% of whom were homeless and the remainder near-homeless. Alcohol and/or drug use was reported by 93% and severe substance misuse was found in 39% of the population. Severe mental illness was found in(More)
This paper deals with credit market imperfections and idiosyncratic risks in a two–sector heterogeneous agent dynamic general equilibrium model of occupational choice. We focus especially on the effects of tightening financial constraints on macroeconomic performance, entrepreneurial risk–taking, and social mobility. Contrary to many models in the(More)
This paper examines intertemporal risk–taking in a stochastically growing economy with externalities in human capital accumulation where agents have preferences for social status. In order to isolate the effects of status concerns on long–run expected growth, the analysis is embedded in a nonexpected utility setting, which disentangles the effects from risk(More)
This paper investigates the redistributive effects of taxation on occupational choice and growth. We discuss a two–sector economy in the spirit of Romer (1990). Agents engage in one of two alternative occupations: either self–employment in an intermediate goods sector characterized by monopolistic competition, or employment as an ordinary worker in this(More)
This paper examines the effects of credit market imperfections and idiosyncratic risks on occupational choice, capital accumulation, as well as on the income and wealth distribution in a two sector heterogeneous agent general equilibrium model. Workers and firm owners are subject to idiosyncratic shocks. Entrepreneurship is the riskier occupation. Compared(More)
This paper examines the pattern of international capital flows in a two–sector dynamic general equilibrium heterogeneous agent model with financial frictions and idiosyncratic entrepreneurial risk. Countries differ only with respect to the tightness of constraints on the domestic credit market. The results provide an explanation for the ‘Lucas paradox’, i.(More)
This paper deals with financial constraints and idiosyncratic risks in a two– sector heterogeneous agent dynamic general equilibrium model of occupational choice. We discuss the macroeconomic and distributional effects of financial market integration for small economies which differ only with respect to the tightness of constraints on the domestic credit(More)
This paper combines the Aiyagari/Huggett–type standard incomplete markets model with the Arrow/Romer approach to growth to analyze feedback effects between growth and inequality, both endogenously determined in equilibrium. We derive conditions on existence/ nonexistence of balanced growth paths. Major results include that growth, inequality, and risk are(More)