Now showing items 21-25 of 25

    • Long-lived Collateralized Assets and Bubbles 

      Araujo, Aloisio; Páscoa, Mário; Torres Martínez, Juan Pablo (Universidad de Chile, Facultad de Economía y Negocios, 2008)
      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, regardless of ...
    • Massive housing in central neighborhoods: Who is responsible for the excessive densification? 

      Martínez, Juan Pablo; López Morales, Ernesto (Pontificia Universidad Católica de Chile, 2018)
      Although the phenomenon was evident at least several years ago in various communes of Santiago, it was not until 2017 that housing hyper-densification by real estate companies exploded: a tweet by Claudio Orrego, then the ...
    • On equilibrium existence with endogenous restricted financial participation 

      Seghir, Abdelkrim; Torres Martínez, Juan Pablo (Elsevier, 2011)
      Without requiring either financial survival assumptions or linear spanning conditions over financial spaces, we prove equilibrium existence in an abstract incomplete market economy with endogenous restricted financial ...
    • Wealth transfers and the role of collateral when lifetimes are uncertain 

      Seghir, Abdelkrim; Torres Martínez, Juan Pablo (Springer, 2008)
      We develop a general equilibrium model of wealth transfers in the presence of uncertain lifetimes and default. Without introducing exogenous debt constraints, agents are allowed to make collateral-backed promises at any ...
    • With Additional Enforcement Mechanisms, does Collateral Avoid Ponzi Schemes? 

      Revil, Thiago; Torres Martínez, Juan Pablo (Universidad de Chile, Facultad de Economía y Negocios, 2008)
      In infinite horizon incomplete market economies, when the seizure of collateral guarantees is the only mechanism enforcing borrowers not to entirely default on their promises, equilibrium exists independently of the ...