General Equilibrium with Endogenous Trading Constraints


We build a general equilibrium model where agents are subject to endogenous trading constraints, making the access to financial trade dependent on prices  and consumption decisions. Besides, our framework is compatible with the  existence of endogenous financial segmentation and credit markets’ exclusion.  Two results of equilibrium existence are shown. In the first one, we assume individuals can super-replicate financial payments buying durable commodities and investing in assets that give liquidity to all agents. In the second result, under strict monotonicity of preferences, we suppose there are agents that may compensate with increments in present demand the losses of well-being generated by reductions of future consumption.

Información adicional

  • Presentador: Sebastián Cea
  • Proveniente: Université Paris 1 Panthéon Sorbonne
  • Fecha: Miércoles, 06 Enero 2016
  • Hora: 12:00
  • Lugar: Sala 788, FAE