Long-lived collateralized assets and bubbles
When infinite-lived agents trade long-lived assets secured by durable goods, equilibrium exists without any additional debt constraints or uniform impatience conditions on agents' characteristics. Also, price bubbles are absent when physical endowments are uniformly bounded away from zero.
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Econometric Society, vol. 71(6), pages 1767-1793, November.
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Econometric Society, vol. 70(4), pages 1613-1638, July.
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