Liquidity shrinkages and incomplete financial participation in dynamic economies with asset-backed securities
Professor Advisor
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Torres-Martínez, Juan
Author
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Sepúlveda Cortés, Fabián Alejandro
Admission date
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2017-07-20T23:01:28Z
Available date
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2017-07-20T23:01:28Z
Publication date
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2013
Identifier
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https://repositorio.uchile.cl/handle/2250/144732
General note
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Tesis para optar al grado de Magíster en Economía
es_ES
Abstract
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We address an in nite horizon economy with collateralized debt and asset-backed
securities, allowing for general prepayment speci cations, liquidity contractions, and incomplete
nancial participation. We guarantee equilibrium existence without requiring uniform impa-
tience on preferences or imposing debt constraints other than those endogenously determined by
collateral requirements.