THE MODIGLIANI-MILLER THEOREM IN A DYNAMIC ECONOMY

Shin-Ichi Takekuma and 愼一 武隈

Hitotsubashi Journal of Economics, 2010, vol. 51, issue 1, 43-55

Abstract: A dynamic economy with markets of equities and bonds is considered. The rational expectations equilibrium is defined in an asset pricing model and a condition under which the Modigliani-Miller theorem holds is shown. In an aggregate model the existence of a rational expectations equilibrium is proved.

Keywords: The Modigliani-Miller theorem; rational expectations; asset pricing (search for similar items in EconPapers)
JEL-codes: C02 C61 D80 D90 O41 (search for similar items in EconPapers)
Date: 2010
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://hermes-ir.lib.hit-u.ac.jp/hermes/ir/re/18604/HJeco0510100430.pdf

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hit:hitjec:v:51:y:2010:i:1:p:43-55

DOI: 10.15057/18604

Access Statistics for this article

More articles in Hitotsubashi Journal of Economics from Hitotsubashi University Contact information at EDIRC.
Bibliographic data for series maintained by Digital Resources Section, Hitotsubashi University Library ().