We study a strategic market game with finitely many traders, infinite horizon and real assets. To this standard framework (see, e.g. Giraud and Weyers, 2004) we add two key ingredients: First, default is allowed at equilibrium by means of some collateral requirement for financial assets; second,...

Designing policy for global warming requires an integrated analysis of the interplay between the economy and the environment. The consensus is growing that, despite their dominance in the economics literature and their influence in public discussion and policymaking, the methodology employed so...