Browsing by Subject "Incomplete markets"

Now showing items 1-4 of 4

    • Credit segmentation in general equilibrium 
      Cea Echenique, 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 ...
    • Endogenous differential information 
      Cea Echenique, Sebastián; Hervés Beloso, Carlos; Torres Martínez, Juan Pablo (Springer, 2017)
      We include endogenous differential information in a model with sequential trade and incomplete financial participation. Agents update information through market signals given by commodity prices and asset deliveries. ...
    • General economic equilibrium with financial markets and retainability 
      Jofré Cáceres, René; Rockafellar, R. T.; Wets, Roger J-B (Springer, 2017)
      A theory of economic equilibrium for incomplete financial markets in general real assets is developed in a new formulation with currency-denominated prices. The "goods" are not only commodities, and they can influence ...
    • Sequential equilibrium in incomplete markets with long-term debt 
      Jaar Michea, Daniel (Universidad de Chile. Facultad de Economía y Negocios, 2018)
      This 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 ...