ON THE PROPERTIES OF GENERAL EQUILIBRIUM WITH DEFAULT IN ECONOMIES WITH INCOMPLETE MARKETS
In this paper we study the properties of general equilibrium with default in economies with incomplete markets. It is noted that, in equilibrium, an agent makes two types of comparisons when deciding whether to participate in the credit market: as a lender and as a borrower. As a consequence, the eq...
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| Langue: | English |
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Pontificia Universidad Católica de Chile. Instituto de Economía.
2011
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| Accès en ligne: | http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0719-04332011000100002 |
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