Incentive Constrained Risk Sharing, Segmentation, and Asset Pricing
收藏NBER2017-11-01 更新2025-01-04 收录
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https://www.nber.org/papers/w23986
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资源简介：
Incentive problems make securities payos imperfectly pledgeable, limiting agents ability to issue liabilities. We analyze the equilibrium consequences of such endogenous incompleteness in a dynamic exchange economy. Because markets are endogenously incomplete, agents have dierent intertemporal
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美国国家经济研究局创建时间：
2017-11-01
