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Demostración de equilibrio competitivo con short-sale hipotecario

Author

Listed:
  • Daga, Sergio

    (Universidad de Navarra y Navarra Center for International Development, Instituto Cultura y Sociedad, Edificio de Bibliotecas)

Abstract

Analizamos una economía con mercados financieros incompletos donde existen activos reales sujetos a riesgo de crédito y activos nominales libres de default. Permitimos la inclusión de penalidades extra-económicas en la función de utilidad modelando “short-sales” de garantías hipotecarias. Mostramos, bajo hipótesis usuales en preferencias y asignaciones iniciales, que siempre existe un equilibrio competitivo en nuestra economía.

Suggested Citation

  • Daga, Sergio, 2017. "Demostración de equilibrio competitivo con short-sale hipotecario," Revista Latinoamericana de Desarrollo Economico, Carrera de Economía de la Universidad Católica Boliviana (UCB) "San Pablo", issue 28, pages 165-202, December.
    • Handle: RePEc:ris:revlde:1953
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    References listed on IDEAS

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    1. Rubén Poblete-Cazenave & Juan Torres-Martínez, 2013. "Equilibrium with limited-recourse collateralized loans," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 53(1), pages 181-211, May.
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    More about this item

    Keywords

    Mercados financieros incompletos; garantías colaterales; equilibrio competitivo;
    All these keywords.

    JEL classification:

    • D52 - Microeconomics - - General Equilibrium and Disequilibrium - - - Incomplete Markets
    • D53 - Microeconomics - - General Equilibrium and Disequilibrium - - - Financial Markets
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty

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