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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