Endogenous Transaction Costs

V. Filipe Martins-da-Rocha () and Yiannis Vailakis

No 680, Economics Working Papers (Ensaios Economicos da EPGE) from Graduate School of Economics, Getulio Vargas Foundation (Brazil)

Abstract: The paper proposes an alternative general equilibrium formulation of financial asset economies with transactions costs. Transaction costs emerge endogenously at equilibrium and reflect agents decisions of intermediating financial activities at the expense of providing labor services. An equilibrium is shown to exist in the case of real asset structures.

New Economics Papers: this item is included in nep-cba
Date: 2008-10-28
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