Arbitrage with Production, Collateral Constraint and Heterogeneous Belief
نویسندگان
چکیده
منابع مشابه
Belief Heterogeneity, Collateral Constraint, and Asset Prices∗
The recent economic crisis highlights the role of financial markets in allowing economic agents, including prominent banks, to speculate on the future returns of different financial assets, such as mortgage-backed securities. This paper introduces a dynamic general equilibriummodel with aggregate shocks, endogeneously incomplete markets and heterogeneous agents to investigate this role of finan...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2016
ISSN: 1556-5068
DOI: 10.2139/ssrn.2788109