Long-lived collateralized assets and bubbles
Mario Pascoa and
Juan Pablo Torres-Martinez ()
Journal of Mathematical Economics, 2011, vol. 47, issue 3, 260-271
When infinite-lived agents trade long-lived assets secured by durable goods, equilibrium exists without any additional debt constraints or uniform impatience conditions on agents’ characteristics. Also, price bubbles are absent when physical endowments are uniformly bounded away from zero.
Keywords: Collateralized assets; Existence of equilibrium; Asset pricing bubbles (search for similar items in EconPapers)
JEL-codes: D50 D52 (search for similar items in EconPapers)
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Working Paper: Long-lived collateralized assets and bubbles (2010)
Working Paper: Long-lived Collateralized Assets and Bubbles (2008)
Working Paper: Long-lived collateralized assets and bubbles (2007)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:mateco:v:47:y:2011:i:3:p:260-271
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