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Sequential equilibrium in incomplete markets with long-term debt

Authordc.contributor.authorJaar Michea, Daniel 
Admission datedc.date.accessioned2018-12-19T14:00:41Z
Available datedc.date.available2018-12-19T14:00:41Z
Publication datedc.date.issued2018
Cita de ítemdc.identifier.citationSeries Documentos de Trabajo No. 474, pp. 1 - 20, Noviembre, 2018es_ES
Identifierdc.identifier.urihttp://repositorio.uchile.cl/handle/2250/153421
Abstractdc.description.abstractThis paper proves equilibrium existence in an incomplete market sequential economy with finitely-lived debt contracts. Introducing credit constraints limiting agents’ access to liquidity, we show that a competitive equilibrium always exists. Our results are consistent with broad forms of endogenous credit segmentationes_ES
Patrocinadordc.description.sponsorshipThe author thanks Juan Pablo Torres-Mart´ınez and Emma Moreno-Garc´ıa for valuable mentorship and support, as well as the participants at the DGS VI /JOLATE XIX Congress for useful comments. This project originates from the thesis of the author’s MSc. in Economics at the Departamento de Econom´ıa, Universidad de Chile, which was funded by the Comisi´on Nacional de Investigaci´on Cient´ıfica y Tecnol´ogica through the grant CONICYTPFCHA/Mag´ısterNacional/2017-22170387. The author also thanks the Departamento de Posgrado y Post´ıtulo, Vicerrector´ıa de Asuntos Acad´emicos from the University of Chile for providing funding for research activities at the Universidad de Salamancaes_ES
Lenguagedc.language.isoenes_ES
Publisherdc.publisherUniversidad de Chile. Facultad de Economía y Negocioses_ES
Type of licensedc.rightsAttribution-NonCommercial-NoDerivs 3.0 Chile*
Link to Licensedc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/cl/*
Sourcedc.sourceSeries Documentos de Trabajoes_ES
Keywordsdc.subjectGeneral equilibriumes_ES
Keywordsdc.subjectIncomplete marketses_ES
Keywordsdc.subjectFinancial segmentationes_ES
Títulodc.titleSequential equilibrium in incomplete markets with long-term debtes_ES
Document typedc.typeDocumento de trabajoes_ES
Catalogueruchile.catalogadorrcaes_ES


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Attribution-NonCommercial-NoDerivs 3.0 Chile
Except where otherwise noted, this item's license is described as Attribution-NonCommercial-NoDerivs 3.0 Chile