Competitive Equilibria for Infinite-Horizon Economies with Incomplete Markets

Alejandro Hernandez () and Manuel Santos
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Alejandro Hernandez: Centro de Investigacion Economica (CIE), Instituto Tecnologico Autonomo de Mexico (ITAM)

No 9407, Working Papers from Centro de Investigacion Economica, ITAM

Abstract: In this paper we consider a sequential trading economy with incomplete financial markets and a finite number of infinitely lived agents. We propose a specification of agents' budget sets and show that such specification features several desirable properties. We then establish the existence of an equilibrium for a regular class of economies.

Pages: 34 pages
Date: 1994
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:cie:wpaper:9407

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