Asset Pricing when Risk Sharing is Limited by Default
收藏NBER1998-03-01 更新2025-01-04 收录
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https://www.nber.org/papers/w6476
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资源简介：
We study the asset pricing implications of a multi-agent endowment economy where agents can default on contracts that would leave them otherwise worse off. We specialize and extend the environment studied by Kocherlakota (1995) and Kehoe and Levine (1993) to make it comparable to standard studies of
提供机构：
美国国家经济研究局创建时间：
1998-03-01
