Without requiring either financial survival assumptions or linear spanning conditions over financial spaces, we prove equilibrium existence in an abstract incomplete market economy with endogenous restricted financial ...

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 study is a review of some recent papers in general equilibrium that can be viewed as efforts to better understand the recent financial crisis. We begin by proposing a new set of preferences inspired by the new decision ...

This paper studies a class of general equilibrium economies in which the individuals' endowments depend on privately observed effort choices and the financial markets are endogenous. The environment is modeled as a two-stage ...

We define a country's beta as the covariance of domestic consumption growth with world consumption growth scaled by the world's variance. Beta is related to a country's risk-taking position in models of international ...

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 ...

A presente dissertação tem como propósito o exame do conceito de equilíbrio econômico e financeiro em uma estrutura de agrupamento contratual de notória complexidade. Espécie do gênero grupos de contratos, os contratos ...

In the light of recent economic crises the necessity of more detailed and especially financial investigations for economic policy makers and the majority of economic agents surged imperatively around the world. However, ...

En el año 2018 se cumplen 20 años de la emisión del voto 6432-98 de la Sala Constitucional de la Corte Suprema de Justicia de Costa Rica. Dicho fallo reconoce el derecho al equilibrio económico y financiero en los contratos ...