Add to ORKGIn this paper, I construct a model of an exchange economy in which bankruptcy arises in a manner similar to what we observe. This model is a more realistic representation of some markets in which intertemporal assets are traded. Using standard and natural assumptions, I show that every economy represented by this model has an equilibrium. Using examples, I highlight some welfare effects of bankruptcy.Bankruptcy ; Econometric models
We analyze an economy where principals and agents match and contract subject to moral hazard. Bankru...
In this paper we explore the business cycle properties of economies where agents have access to cred...
In this paper, I build a partial equilibrium model and uncover a relationship between regional macro...
In this paper, I construct a model of an exchange economy in which bankruptcy arises in a manner sim...
This is the publisher's version, also available electronically from http://dx.doi.org/ 10.2202/1534-...
A temporary general equilibrium in bankruptcy model with finite periods was analyzed in this paper, ...
Summary. We present a consistent pure-exchange general equilibrium model where agents may not be abl...
We present a consistent pure-exchange general equilibrium model where agents may not foreseen all po...
International audienceWe present a consistent pure-exchange general equilibrium model where agents m...
General financial models have become workhorse models in the fields of macroeconomics and finance. T...
General financial models have become workhorse models in the fields of macroeconomics and finance. T...
to economic activity. The model, which includes agents that borrow and lend and a competitive credit...
We enlarge the standard model of general equilibrium with incomplete market (GEI), to incorporate li...
Under the assumption that asset markets are incomplete, this paper introduces bankruptcy in an inter...
This paper studies the aggregate welfare consequences of changes in the prescribed penalty for perso...
We analyze an economy where principals and agents match and contract subject to moral hazard. Bankru...
In this paper we explore the business cycle properties of economies where agents have access to cred...
In this paper, I build a partial equilibrium model and uncover a relationship between regional macro...
In this paper, I construct a model of an exchange economy in which bankruptcy arises in a manner sim...
This is the publisher's version, also available electronically from http://dx.doi.org/ 10.2202/1534-...
A temporary general equilibrium in bankruptcy model with finite periods was analyzed in this paper, ...
Summary. We present a consistent pure-exchange general equilibrium model where agents may not be abl...
We present a consistent pure-exchange general equilibrium model where agents may not foreseen all po...
International audienceWe present a consistent pure-exchange general equilibrium model where agents m...
General financial models have become workhorse models in the fields of macroeconomics and finance. T...
General financial models have become workhorse models in the fields of macroeconomics and finance. T...
to economic activity. The model, which includes agents that borrow and lend and a competitive credit...
We enlarge the standard model of general equilibrium with incomplete market (GEI), to incorporate li...
Under the assumption that asset markets are incomplete, this paper introduces bankruptcy in an inter...
This paper studies the aggregate welfare consequences of changes in the prescribed penalty for perso...
We analyze an economy where principals and agents match and contract subject to moral hazard. Bankru...
In this paper we explore the business cycle properties of economies where agents have access to cred...
In this paper, I build a partial equilibrium model and uncover a relationship between regional macro...