Arbeitspapier
Long-lived collateralized assets and bubbles
When infinite lived agents trade long-lived assets secured by durable goods, equilibrium exists without any uniform impatience requirements or additional debt constraints. Asset pricing bubbles are absent when the new endowments of durable goods are uniformly bounded away from zero. Otherwise, bubbles may occur, even for assets in persistently positive net supply and for deflators that yield finite present values of aggregate wealth.
- Language
-
Englisch
- Bibliographic citation
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Series: Texto para discussão ; No. 542
- Classification
-
Wirtschaft
General Equilibrium and Disequilibrium: General
Incomplete Markets
- Subject
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Existence of equilibrium
Asset pricing bubbles
Collateralized assets.
Kapitalmarkttheorie
- Event
-
Geistige Schöpfung
- (who)
-
Araujo, Aloisio
Páscoa, Mário R.
Torres-Martínez, Juan Pablo
- Event
-
Veröffentlichung
- (who)
-
Pontifícia Universidade Católica do Rio de Janeiro (PUC-Rio), Departamento de Economia
- (where)
-
Rio de Janeiro
- (when)
-
2007
- Handle
- Last update
-
10.03.2025, 11:43 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Araujo, Aloisio
- Páscoa, Mário R.
- Torres-Martínez, Juan Pablo
- Pontifícia Universidade Católica do Rio de Janeiro (PUC-Rio), Departamento de Economia
Time of origin
- 2007
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