Infinite horizon economies with borrowing constraints
AbstractWe consider infinite horizon economies with incomplete financial markets. Securities are in positive net supply and may be infinite-lived. We establish existence of equilibria by requiring borrowing constrains instead of portfolio restrictions..
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Bibliographic InfoPaper provided by Department of Economics PUC-Rio (Brazil) in its series Textos para discussão with number 536.
Date of creation: Dec 2006
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Equilibrium; Infinite horizon incomplete markets; Infinite-lived real assets.;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-01-13 (All new papers)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Magill, M. & Quinzii, M., 1992.
"Infinite Horizon Incomplete Markets,"
DELTA Working Papers
92-26, DELTA (Ecole normale supérieure).
- Magill,Michael & Quinzii,Martine, 1992. "Infinite horizon,Incomplete markets," Discussion Paper Serie A 384, University of Bonn, Germany.
- Magill, M. & Quinzii, M., 1992. "Infinite Horizon Incomplete Markets," Papers 413a, California Davis - Institute of Governmental Affairs.
- Magill, M. & Quinzii, M., 1993. "Infinite Horizon Incomplete Markets," Papers 9320, Southern California - Department of Economics.
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