General equilibrium with endogenous trading constraints

SEBASTIAN ANDRÉS CEA ECHENIQUE, Juan Pablo Torres-Martínez

Resultado de la investigación: Contribución a una revistaArtículorevisión exhaustiva

2 Citas (Scopus)

Resumen

In a competitive model where agents are subject to endogenous trading constraints, we make the access to financial trade dependent on prices and consumption decisions. Our framework is compatible with the existence of both credit market segmentation and market exclusion. In this context, we show equilibrium existence in two scenarios. In the first one, individuals can fully hedge the payments of segmented financial contracts by trading unsegmented assets. In the second one, it is assumed that agents may compensate with increments in present demand the losses of well-being generated by reductions of future consumption.

Idioma originalInglés
Número de artículoe0203814
PublicaciónPLoS ONE
Volumen13
N.º9
DOI
EstadoPublicada - 1 sep 2018

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