Incomplete markets in infinite horizon: debt constraints versus node prices

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dc.contributor.author Florenzano, Monique
dc.contributor.author Gourdel, Pascual
dc.contributor.editor Universidad Carlos III de Madrid. Departamento de Economía
dc.date.accessioned 2009-04-07T10:56:30Z
dc.date.available 2009-04-07T10:56:30Z
dc.date.issued 1995-03
dc.identifier.issn 2340-5031
dc.identifier.uri http://hdl.handle.net/10016/3904
dc.description.abstract The general equilibrium model with incomplete markets is here extended to infinite horizon economies populated. by a finite number of infinitely-lived agents. The crucial issue which divides the infinite horizon setting from the finite horizon setting is in the nature of borrowing constaints which added to spot constraints define a plausible budget set for individual agents. The paper relates seyen altemative definitions of equilibrium and states corresponding equilibrium existence theorems when assets are one-period and purely financial.
dc.format.mimetype application/pdf
dc.language.iso eng
dc.relation.ispartofseries UC3M Working Paper. Economics;
dc.relation.ispartofseries 1995-12-08
dc.rights Atribución-NoComercial-SinDerivadas 3.0 España
dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
dc.subject.other Stochastic equilibrium
dc.subject.other Incomplete markets
dc.subject.other Infinite horizon
dc.subject.other Purely financial
dc.subject.other One-period securities
dc.subject.other No-arbitrage asset pricing
dc.title Incomplete markets in infinite horizon: debt constraints versus node prices
dc.type workingPaper
dc.subject.eciencia Economía
dc.rights.accessRights openAccess
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