Long-lived collateralized assets and bubbles

When infinite-lived agents trade long-lived assets secured by durable goods, equilibrium exists without any additional debt constraints or uniform impatience conditions on agents’ characteristics. Also, price bubbles are absent when physical endowments are uniformly bounded away from zero.

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Year of publication:	2011
Authors:	Araujo, Aloisio ; Páscoa, Mário R. ; Torres-Martínez, Juan Pablo
Published in:	Journal of Mathematical Economics. - Elsevier, ISSN 0304-4068. - Vol. 47.2011, 3, p. 260-271
Publisher:	Elsevier
Subject:	Collateralized assets \| Existence of equilibrium \| Asset pricing bubbles

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Type of publication:	Article
Classification:	D50 - General Equilibrium and Disequilibrium. General ; D52 - Incomplete Markets
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011065393