We study a financial market adverse selection model where all agents are endowed with initial wealth and choose to invest as entrepreneurs or financiers, or not to invest. We show that often a lack of outside finance leads to the emergence of financial markets where availability of outside ...
Equilibrium analysis in financial markets with countably many securities - Aliprantis, Florenzano, et al. () Citation Context ...e free prices The ... C.D Aliprantis a,M Florenzano b,V.F Martins-da-Rocha b,... - 《Journal of Mathematical Economics》 被引量: 68发表: 2004年 Extension...
assuming that transaction costs are 02 percent are the financial markets in equ 假设交易成本是0.2%是金融市场方程
Our analysis provides insights into possible sources of allocative inefficiency in financial markets. While the importance of financially constrained arbitrage had been emphasized before Shleifer and Vishny, 1997, it was put into particularly sharp focus during the 1998 financial crisis. Prior to that ...
Sunspots and incomplete financial markets: The general case I < S distinct types of bonds, then — corresponding to the inherent deficiency in the financial markets — sunspots will generate D=S I dimensions of consumption allocation or real (as well as spot price or nominal) indeterminacy.do....
a“Because financial markets do not tend towards equilibrium they cannot be left to their own devices. Periodic crises bring forth regulatory reforms. That is how central banking and the regulation of financial markets have evolved.” “由于金融市场不趋向往平衡他们不可能留下给他们自己的设备。 周期...
EQUILIBRIUM IN FINANCIAL MARKETS WITH MARKET FRICTIONS Redundant assets have complicated implications to equilibrium, when available asset markets are subject to market frictions. We show the existence of equilibrium in two-period asset markets where portfolio choices are subject to portfoli... 원동...
Financial Encyclopedia e·qui·lib·ri·um (ē′kwə-lĭb′rē-əm, ĕk′wə-) n.pl.e·qui·lib·ri·umsore·qui·lib·ri·a(-rē-ə) 1.A condition in which all acting influences are canceled by others, resulting in a stable, balanced, or unchanging system. ...
Equilibrium in collateralized asset markets: Credit contractions and negative equity loans 来自 EconPapers 喜欢 0 阅读量: 35 作者:MA Iraola,JP Torres-Martínez 摘要: We address a general equilibrium model with collateralized debt, credit contractions, and financial market segmentation. Restrictions on ...