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Intertemporal equilibrium with financial asset and physical capital

Cuong Le van and Ngoc-Sang Pham

Documents de travail du Centre d'Economie de la Sorbonne from Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne

Abstract: We build an infinite-horizon dynamic deterministic general equilibrium model with imperfect markets (because of borrowing constraints), in which heterogeneous agents invest in capital or/and financial asset, and consume. There is a representative firm who maximizes its profit. Firstly, the existence of intertemporal equilibrium is proved even if aggregate capital is not uniformly bounded. Secondly, we study the interaction between the financial market and the productive sector. We also give conditions to have no bubbles on the financial asset market and the physical asset market as well

Keywords: Infinite horizon; intertemporal equilibrium; financial friction; productivity; efficiency; fluctuation (search for similar items in EconPapers)
JEL-codes: C62 D31 D91 E44 G10 (search for similar items in EconPapers)
Date: 2014-08
New Economics Papers: this item is included in nep-dge and nep-mac
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Citations: View citations in EconPapers (3)

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Journal Article: Intertemporal equilibrium with financial asset and physical capital (2016) Downloads
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Working Paper: Intertemporal equilibrium with financial asset and physical capital (2015) Downloads
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Working Paper: Intertemporal equilibrium with financial asset and physical capital (2014) Downloads
Working Paper: Intertemporal equilibrium with financial asset and physical capital (2014) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:mse:cesdoc:14085

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