Sequential equilibrium in incomplete markets with long-term debt
| Author | dc.contributor.author | Jaar Michea, Daniel | |
| Admission date | dc.date.accessioned | 2018-12-19T14:00:41Z | |
| Available date | dc.date.available | 2018-12-19T14:00:41Z | |
| Publication date | dc.date.issued | 2018 | |
| Cita de ítem | dc.identifier.citation | Series Documentos de Trabajo No. 474, pp. 1 - 20, Noviembre, 2018 | es_ES |
| Identifier | dc.identifier.uri | https://repositorio.uchile.cl/handle/2250/153421 | |
| Abstract | dc.description.abstract | 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 equilibrium always exists. Our results are consistent with broad forms of endogenous credit segmentation | es_ES |
| Patrocinador | dc.description.sponsorship | The 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 Salamanca | es_ES |
| Lenguage | dc.language.iso | en | es_ES |
| Publisher | dc.publisher | Universidad de Chile. Facultad de Economía y Negocios | es_ES |
| Type of license | dc.rights | Attribution-NonCommercial-NoDerivs 3.0 Chile | * |
| Link to License | dc.rights.uri | http://creativecommons.org/licenses/by-nc-nd/3.0/cl/ | * |
| Source | dc.source | Series Documentos de Trabajo | es_ES |
| Keywords | dc.subject | General equilibrium | es_ES |
| Keywords | dc.subject | Incomplete markets | es_ES |
| Keywords | dc.subject | Financial segmentation | es_ES |
| Título | dc.title | Sequential equilibrium in incomplete markets with long-term debt | es_ES |
| Document type | dc.type | Documento de trabajo | |
| Cataloguer | uchile.catalogador | rca | es_ES |
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Except where otherwise noted, this item's license is described as Attribution-NonCommercial-NoDerivs 3.0 Chile