Super-replication in economies with imperfect financial markets
TESIS PARA OPTAR AL GRADO DE Magíster de Economía === This article addresses equilibrium existence in an in nite horizon economy with in- complete markets and endogenous credit segmentation. We do not restrict consumption allocation to be bounded and we do not impose uniform impatience on preferen...
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| Language: | en |
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Universidad de Chile
2019
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| Online Access: | http://repositorio.uchile.cl/handle/2250/164080 |
| Summary: | TESIS PARA OPTAR AL GRADO DE Magíster de Economía === This article addresses equilibrium existence in an in nite horizon economy with in-
complete markets and endogenous credit segmentation. We do not restrict consumption allocation
to be bounded and we do not impose uniform impatience on preferences. Our equilibrium results
consider a general framework of positive net supply assets, and introduce short-lived securities
in zero net supply through a super-replication property proposed in the literature of two-period
economies with nancial segmentation. |
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