Asset prices, debt constraints and inefficiency

DOI10.1016/j.jet.2011.03.007zbMath1247.91105OpenAlexW2126016662MaRDI QIDQ634521

Pietro Reichlin, Gaetano Bloise

Publication date: 16 August 2011

Published in: Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.jet.2011.03.007

zbMATH Keywords

defaultincomplete marketstransversality conditionasset pricescass criterionconstrained inefficiencyprivate debtsolvency constraints

Mathematics Subject Classification ID

General equilibrium theory (91B50) Special types of economic markets (including Cournot, Bertrand) (91B54)

Related Items

Robust bubbles with mild penalties for default, Intertemporal equilibrium with financial asset and physical capital, Asset bubbles and efficiency in a generalized two-sector model, Introduction to financial frictions and debt constraints, Constrained efficiency without commitment, Asset prices, debt constraints and inefficiency, Credit risk in general equilibrium, Asset shortages, liquidity and speculative bubbles, Collateral and the efficiency of monetary policy

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