Browsing by Author "Torres Martínez, Juan Pablo"

Now showing items 1-5 of 5

    • Credit segmentation in general equilibrium 
      Cea Echeñique, Sebastián; Torres Martínez, Juan Pablo (Elsevier B.V., 2015)
      We build a general equilibrium model with endogenous borrowing constraints compatible with credit segmentation. There are personalized trading restrictions connecting prices with both portfolio constraints and consumption ...
    • Equilibrium with limited-recourse collateralized loans 
      Torres Martínez, Juan Pablo; Poblete Cazenave, Rubén (Springer-Verlag, 2013)
      We address a general equilibrium model with limited-recourse collateralized loans and securitization of debts. Each borrower is required to pledge physical collateral, and bankruptcy is filed against him if claims are ...
    • Fiat money and the value of binding portfolio constraints 
      Páscoa, Mário R.; Petrassi, Myrian; Torres Martínez, Juan Pablo (Springer, 2011-02)
      We establish necessary and sufficient conditions for the individual optimality of a consumption-portfolio plan in an infinite horizon economy where agents are uniformly impatient and fiat money is the only asset available ...
    • The impossibility of effective enforcement mechanisms in collateralized credit markets 
      Ferreira, Thiago Revil T.; Torres Martínez, Juan Pablo (ELSEVIER, 2010)
      We analyze the possibility of the simultaneous presence of two key features in price-taking sequential economies: collateralized credit operations and effective additional enforcement mechanisms, i.e. those implying ...
    • 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 ...