We derive sufficient conditions for the existence of multiple equilibria in two-good, two-agent pure exchange economies with heterogeneous but symmetric preferences with identical Bernoulli utilities. When preferences are non-homothetic (e.g., quadratic, quasi-linear, or HARA), multiple...

I develop a highly tractable dynamic general equilibrium model with collateralized lending and securitization in which asset-backed securities (ABS) function as a mechanism for risk sharing. Entrepreneurs who face aggregate and idiosyncratic investment risks can borrow from a menu of...

I obtain a closed-form solution to a Huggett economy with constant absolute risk aversion (CARA) utility when the vector of individual state variables follows a VAR(1) process with an arbitrary shock distribution. The stationary equilibrium is unique if the income process is AR(1), but not...