Long-lived collateralized assets and bubbles

被引：12

作者：

Araujo, Aloisio ^{[2
,3
]}

Pascoa, Mario R. ^{[1
]}

Torres-Martinez, Juan Pablo ^{[4
]}

机构：

[1] Nova Sch Business & Econ, P-1099032 Lisbon, Portugal

[2] IMPA, BR-22460320 Rio De Janeiro, Brazil

[3] EPGE FGV, BR-22460320 Rio De Janeiro, Brazil

[4] Univ Chile, Dept Econ, Santiago, Chile

来源：

JOURNAL OF MATHEMATICAL ECONOMICS | 2011年 / 47卷 / 03期

关键词：

Collateralized assets; Existence of equilibrium; Asset pricing bubbles; INCOMPLETE MARKETS; INFINITE-HORIZON; CONSTRAINTS; EQUILIBRIA; MODELS; MONEY;

D O I：

10.1016/j.jmateco.2010.12.007

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

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. (C) 2010 Elsevier B.V. All rights reserved.

引用

页码：260 / 271

页数：12

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