Showing 1 - 8 of 8
Persistent link: https://www.econbiz.de/10001719315
Persistent link: https://www.econbiz.de/10001489548
Persistent link: https://www.econbiz.de/10003805479
Persistent link: https://www.econbiz.de/10002092222
Persistent link: https://www.econbiz.de/10013453217
Persistent link: https://www.econbiz.de/10013422356
Persistent link: https://www.econbiz.de/10013422983
This paper studies the efficiency of equilibria in a productive OLG economy where the process of financial intermediation is characterized by costly state verification. Both competitive equilibria and Constrained Pareto Optimal allocations are characterized. It is shown that market outcomes can...
Persistent link: https://www.econbiz.de/10014128275