Competitive equilibria for infinite-horizon economies with incomplete markets

Alejandro D. Hernández; Manuel S. Santos

doi:10.1006/jeth.1996.0111

Competitive equilibria for infinite-horizon economies with incomplete markets

Alejandro D. Hernández, Manuel S. Santos

Research output: Contribution to journal › Article › peer-review

36 Scopus citations

Abstract

In this paper we consider a sequential trading economy with incomplete financial markets and a finite number of infinitely lived agents. We propose a specification of agents' budget sets and show that such specification features several desirable properties. We then establish the existence of an equilibrium for a regular class of economies. Journal of Economic Literature Classification Numbers: C62, D52, D90.

Original language	English (US)
Pages (from-to)	102-130
Number of pages	29
Journal	Journal of Economic Theory
Volume	71
Issue number	1
DOIs	https://doi.org/10.1006/jeth.1996.0111
State	Published - Oct 1996
Externally published	Yes

ASJC Scopus subject areas

Economics and Econometrics

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Competitive equilibria for infinite-horizon economies with incomplete markets

Abstract

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