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Equilibrium in stochastic economies with incomplete financial markets

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  • Barbachan, José Fajardo

Abstract

We construct a representative agent supporting regular equilibria in a stochastic economy with more than two agents. Then we give conditions for the existence of equilibria. In this way we extend the results of Cuoco and He (1994).

Suggested Citation

  • Barbachan, José Fajardo, 2002. "Equilibrium in stochastic economies with incomplete financial markets," Brazilian Review of Econometrics, Sociedade Brasileira de Econometria - SBE, vol. 22(1), May.
    • Handle: RePEc:sbe:breart:v:22:y:2002:i:1:a:2745
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    Cited by:

    1. Hansen, Simon Lysbjerg, 2015. "Cross-sectional asset pricing with heterogeneous preferences and beliefs," Journal of Economic Dynamics and Control, Elsevier, vol. 58(C), pages 125-151.
    2. Paul Ehling, 2004. "Consumption, Portfolio Policies and Dynamic Equilibrium in the Presence of Preference for Ownership," Econometric Society 2004 North American Winter Meetings 311, Econometric Society.
    3. Bernard Dumas & Pascal Maenhout, 2002. "A Central-Planning Approach to Dynamic Incomplete-Market Equilibrium," Levine's Working Paper Archive 391749000000000523, David K. Levine.

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