Competitive Equilibria for Infinite-Horizon Economies with Incomplete Markets
In this paper we consider a sequential trading economy with incomplete financial markets and a finite number of infinitely lived agents. We propose a specification of agents' budget sets and show that such specification features several desirable properties. We then establish the existence of an equilibrium for a regular class of economies.
Year of publication: |
1994
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Authors: | Hernandez, Alejandro ; Santos, Manuel |
Institutions: | Centro de Investigación Económica (CIE), Departamento Académico de Economía |
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