Wealth transfers and the role of collateral when lifetimes are uncertain

Abdelkrim Seghir () and Juan Pablo Torres-Martinez
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Abdelkrim Seghir: American University of Beirut, Economics Department

No 527, Textos para discussão from Department of Economics PUC-Rio (Brazil)

Abstract: We develop a general equilibrium model of wealth transfers in the presence of uncertain lifetimes and default. Without introducing exogenous debt constraints, agents are allowed to make collateral-backed promises at any state of their life span.

Keywords: Uncertain lifetimes; Collateralized Assets; Donations; Wills. (search for similar items in EconPapers)
JEL-codes: D52 D91 (search for similar items in EconPapers)
Pages: 28p
Date: 2006-08
New Economics Papers: this item is included in nep-fmk
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Journal Article: Wealth transfers and the role of collateral when lifetimes are uncertain (2008)
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Persistent link: https://EconPapers.repec.org/RePEc:rio:texdis:527

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