The paper proposes an alternative general equilibrium formulation of financial asset economies with transaction costs. Transaction costs emerge endogenously at equilibrium and reflect agents' decisions of intermediating ...

The paper proposes an alternative general equilibrium formulation of financial asset economies with transactions costs. Transaction costs emerge endogenously at equilibrium and reflect agents decisions of intermediating ...

vVe examine the problem of a buyer who wishes to purehase and eombine ti. objeets owned by n individual owners to realize a higher V'illue. The owners are able to delay their entry into the sale proeess: They ean either ...

A theory of economic equilibrium for incomplete financial markets in general real assets is developed in a new formulation with currency-denominated prices. The "goods" are not only commodities, and they can influence ...

The New Institutional Economics, in particular the Transaction Costs approach, has been applied to Brazilian agribusiness systems analysis. Nevertheless, there are still few studies transactions between raw material suppliers ...

Uno de los rasgos más notables que mejor representan el cambio estructural que ha experimentado la economía costarricense, en los últimos años, fruto de los procesos de apertura y globalización ...

In this paper we show the results of an investigation concerning the relationship between the financial system and economic growth in Mexico. Specifically we evaluate the hypothesis that agents in financial markets promote ...