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Infinite horizon economies with borrowing constraints

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Author Info
Emma Moreno-García
Juan Pablo Torres-Martinez () (Department of Economics PUC-Rio)

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Abstract

We 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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Publisher Info
Paper provided by Department of Economics PUC-Rio (Brazil) in its series Textos para discussão with number 536.

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Length: 15p
Date of creation: Dec 2006
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Handle: RePEc:rio:texdis:536

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Related research
Keywords: Equilibrium; Infinite horizon incomplete markets; Infinite-lived real assets.;

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References listed on IDEAS
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.:
  1. Magill, M. & Quinzii, M., 1992. "Infinite Horizon Incomplete Markets," DELTA Working Papers 92-26, DELTA (Ecole normale supérieure).
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  2. Magill, Michael & Quinzii, Martine, 1996. "Incomplete markets over an infinite horizon: Long-lived securities and speculative bubbles," Journal of Mathematical Economics, Elsevier, vol. 26(1), pages 133-170. [Downloadable!] (restricted)
    Other versions:
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Cited by:
(explanations, 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.)

  1. Emma Moreno Garcia & Juan Pablo Torres-Martinez, 2007. "Equilibrium with default-dependent credit constraints," Textos para discussão 540, Department of Economics PUC-Rio (Brazil). [Downloadable!]
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