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Equilibrium with Default and Endogenous Collateral

✍ Scribed by Aloisio Araújo; Jaime Orrillo; Mario R. Páscoa

Book ID
108550451
Publisher
John Wiley and Sons
Year
2000
Tongue
English
Weight
277 KB
Volume
10
Category
Article
ISSN
0960-1627

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Making promises in infinite-horizon econ
Making promises in infinite-horizon economies with default and collateral
✍ Jaime Orrillo 📂 Article 📅 2009 🏛 Elsevier Science 🌐 English ⚖ 204 KB

We study an infinite-horizon economy with incomplete markets where default is explicitly allowed, contrary to the GE 1 model (where default is ruled out by assumption). The time and uncertainty are modeled by a countable infinite event-tree with a unique initial node at initial date, and with a cont