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dc.creatorRodriguez,Eduardo A
dc.date2011-05-01
dc.date.accessioned2019-04-25T12:41:55Z
dc.date.available2019-04-25T12:41:55Z
dc.identifierhttps://scielo.conicyt.cl/scielo.php?script=sci_arttext&pid=S0719-04332011000100002
dc.identifier.urihttp://revistaschilenas.uchile.cl/handle/2250/61231
dc.descriptionIn this paper we study the properties of general equilibrium with default in economies with incomplete markets. It is noted that, in equilibrium, an agent makes two types of comparisons when deciding whether to participate in the credit market: as a lender and as a borrower. As a consequence, the equilibrium can be linked to levels of punishment, perception of default and promised returns. An analysis of equilibrium in the case of economies with two homogeneous types of agents is also presented, from which it can be deduced that in equilibrium under partial default the personal valuations of default for the buyer and the seller are equal.
dc.formattext/html
dc.languageen
dc.publisherPontificia Universidad Católica de Chile. Instituto de Economía.
dc.relation10.4067/S0719-04332011000100002
dc.rightsinfo:eu-repo/semantics/openAccess
dc.sourceLatin american journal of economics v.48 n.1 2011
dc.subjectGeneral equilibrium
dc.subjectincomplete markets
dc.subjectdefault
dc.titleON THE PROPERTIES OF GENERAL EQUILIBRIUM WITH DEFAULT IN ECONOMIES WITH INCOMPLETE MARKETS


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