Incomplete markets, continuum of states and default

被引：15

作者：

Araujo, A

Monteiro, PK

Pascoa, MR

机构：

[1] INST MATEMATICA PURA & APLICADA,BR-22460320 RIO JANEIRO,BRAZIL

[2] FGV RJ,EPGE,BR-22460320 RIO JANEIRO,BRAZIL

[3] FGV RJ,INST MATEMAT PURA & APLICADA,BR-22460320 RIO JANEIRO,BRAZIL

[4] UNIV NOVA LISBOA,FAC ECON,P-1070 LISBON,PORTUGAL

来源：

ECONOMIC THEORY | 1998年 / 11卷 / 01期

关键词：

D O I：

10.1007/s001990050185

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We show that when bankruptcy, subject to penalties, is allowed, it is possible to prove the existence of equilibrium in a model with a continuum of states without imposing any assumptions on ex-post endowments.

引用

页码：205 / 213

页数：9

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