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

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