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Credit segmentation in general equilibrium

Sebastián Cea () and Juan Pablo Torres-Martinez ()

Journal of Mathematical Economics, 2016, vol. 62, issue C, 19-27

Abstract: We build a general equilibrium model with endogenous borrowing constraints compatible with credit segmentation. There are personalized trading restrictions connecting prices with both portfolio constraints and consumption possibilities, a setting which has not thoroughly been addressed by the literature. Our approach is general enough to be compatible with incomplete market economies where there exist wealth-dependent and/or investment-dependent credit access, borrowing constraints precluding bankruptcy, or assets backed by physical collateral.

Keywords: Incomplete markets; General equilibrium; Endogenous trading constraints (search for similar items in EconPapers)
Date: 2016
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Related works:
Working Paper: Credit segmentation in general equilibrium (2016)
Working Paper: Credit segmentation in general equilibrium (2015) Downloads
Working Paper: Credit segmentation in general equilibrium (2015) Downloads
Working Paper: Credit segmentation in general equilibrium (2014)
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