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)
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- Magill,Michael & Quinzii,Martine, 1992.
"Infinite horizon,Incomplete markets,"
Discussion Paper Serie A
384, University of Bonn, Germany.
- Magill, M. & Quinzii, M., 1993. "Infinite Horizon Incomplete Markets," Papers 9320, Southern California - Department of Economics.
- Magill, M. & Quinzii, M., 1992. "Infinite Horizon Incomplete Markets," Papers 413a, California Davis - Institute of Governmental Affairs.
- Magill, M. & Quinzii, M., 1992. "Infinite Horizon Incomplete Markets," DELTA Working Papers 92-26, DELTA (Ecole normale supérieure).
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