Endogenous Transaction Costs
AUTOR(ES)
Martins-da-Rocha, Victor Filipe
DATA DE PUBLICAÇÃO
28/10/2008
RESUMO
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 financial activities at the expense of providing labor services. An equilibrium is shown to exist in the case of real asset structures.
ASSUNTO(S)
competitive equilibrium incomplete markets endogenous transaction costs
ACESSO AO ARTIGO
http://hdl.handle.net/10438/2147Documentos Relacionados
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