Financial markets with endogenous transaction costs

被引：0

作者：

V. Filipe Martins-da-Rocha

Yiannis Vailakis

机构：

[1] Getulio Vargas Foundation,Graduate School of Economics

[2] University of Exeter Business School,Department of Economics

来源：

Economic Theory | 2010年 / 45卷

关键词：

Competitive equilibrium; Incomplete markets; Endogenous transaction costs; D23; D41; D52;

D O I：

暂无

中图分类号：

学科分类号：

摘要：

The paper proposes an alternative general equilibrium formulation of financial asset economies with transaction costs. Transaction costs emerge endogenously at equilibrium and reflect agents’ decisions of intermediating financial activities at the expense of providing labor services.

引用

页码：65 / 97

页数：32

共 50 条

[31] Turbulence and financial markets - A transaction cascade in foreign exchange markets
Ghashghaie, S
Breymann, W
Peinke, J
Talkner, P
ADVANCES IN TURBULENCES VI, 1996, 36 : 167 - 170
[32] Rising trade costs? Agglomeration and trade with endogenous transaction costs
Duranton, Gilles
Storper, Michael
CANADIAN JOURNAL OF ECONOMICS-REVUE CANADIENNE D ECONOMIQUE, 2008, 41 (01): : 292 - 319
[33] TRANSACTION COSTS, MARKETS AND HIERARCHIES - PITELIS,CN
BEVAN, A
ECONOMIC JOURNAL, 1994, 104 (427): : 1481 - 1483
[34] Transaction costs in pollution markets: An empirical study
Gangadharan, L
LAND ECONOMICS, 2000, 76 (04) : 601 - 614
[35] MARTINGALES AND ARBITRAGE IN SECURITIES MARKETS WITH TRANSACTION COSTS
JOUINI, E
KALLAL, H
JOURNAL OF ECONOMIC THEORY, 1995, 66 (01) : 178 - 197
[36] Social capital and transaction costs in millet markets
Jacques, Damien Christophe
Marinho, Eduardo
d'Andrimont, Raphael
Waldner, Francois
Radoux, Julien
Gaspart, Frederic
Defourny, Pierre
HELIYON, 2018, 4 (01):
[37] Liquidity, transaction costs, and reintermediation in electronic markets
Domowitz I.
Journal of Financial Services Research, 2002, 22 (1-2) : 141 - 157
[38] The effect of transaction costs on double auction markets
Noussair, C
Robin, S
Ruffieux, B
JOURNAL OF ECONOMIC BEHAVIOR & ORGANIZATION, 1998, 36 (02) : 221 - 233
[39] TRANSACTION COSTS, MARKETS AND HIERARCHIES - PITELIS,C
PATON, D
BUSINESS HISTORY, 1995, 37 (01) : 168 - 169
[40] Trading volume and transaction costs in futures markets
Wang, GHK
Yau, J
Baptiste, T
JOURNAL OF FUTURES MARKETS, 1997, 17 (07) : 757 - 780

← 1 2 3 4 5 →