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:	2010-07
Authors:	Araujo, Aloisio ; Pascoa, Mário R. ; Torres-Martínez, Juan Pablo
Institutions:	Departamento de Economía, Facultad de Economía y Negocios
Subject:	Collateralized assets \| Existence of equilibrium \| Asset pricing bubbles

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Extent:	application/pdf
Series:	Working Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	28 pages
Classification:	D50 - General Equilibrium and Disequilibrium. General ; D52 - Incomplete Markets
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008553094