Equilibrium with default-dependent credit constraints

Emma Moreno-García and Juan Pablo Torres-Martinez

No 540, Textos para discussão from Department of Economics PUC-Rio (Brazil)

Abstract: We state an infinite horizon sequential markets model with real assets in positive net supply and subject to credit risk. By introducing default-dependent borrowing constraints, we show the existence of equilibrium.

Keywords: Equilibrium; Infinite horizon incomplete markets; Infinite-lived real assets. (search for similar items in EconPapers)
Pages: 14p
Date: 2007-03
New Economics Papers: this item is included in nep-dge
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Persistent link: https://EconPapers.repec.org/RePEc:rio:texdis:540

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