Wealth transfers and the role of collateral when lifetimes are uncertain

We develop a general equilibrium model of wealth transfers in the presence of uncertain lifetimes and default. Without introducing exogenous debt constraints, agents are allowed to make collateral-backed promises at any state of their life span.

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Year of publication:	2006
Authors:	Seghir, Abdelkrim ; Torres-Martinez, Juan Pablo
Publisher:	Rio de Janeiro : Pontifícia Universidade Católica do Rio de Janeiro (PUC-Rio), Departamento de Economia
Subject:	Intertemporale Entscheidung \| Entscheidung unter Unsicherheit \| Sterblichkeit \| Allgemeines Gleichgewicht \| Theorie \| Uncertain lifetimes \| Collateralized Assets \| Donations \| Wills.

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Series:	Texto para discussão ; 527
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	516249533 [GVK] hdl:10419/176010 [Handle] RePEc:rio:texdis:527 [RePEc]
Classification:	D52 - Incomplete Markets ; D91 - Intertemporal Consumer Choice; Life Cycle Models and Saving
Source:	EconStor

Persistent link: https://www.econbiz.de/10011807351