Fiat money and the value of binding portfolio constraints

DOI10.1007/S00199-009-0510-9zbMath1222.91054OpenAlexW2110116413MaRDI QIDQ623447

Myrian Petrassi, Juan Pablo Torres-Martínez, Mario Rui Pascoa

Publication date: 14 February 2011

Published in: Economic Theory (Search for Journal in Brave)

Full work available at URL: http://www.econ.uchile.cl/uploads/publicacion/4d928691-9480-442e-9137-5a05615bcb69.pdf

zbMATH Keywords

asset pricing bubblesbinding portfolio constraintsfundamental value of money

Mathematics Subject Classification ID

Portfolio theory (91G10) Actuarial science and mathematical finance (91G99)

Related Items (8)

Real indeterminacy and dynamics of asset price bubbles in general equilibrium ⋮ Asset bubbles and efficiency in a generalized two-sector model ⋮ Fiat money and the value of binding portfolio constraints ⋮ Portfolio constraints, differences in beliefs and bubbles ⋮ Long-lived collateralized assets and bubbles ⋮ Financial segmentation and collateralized debt in infinite-horizon economies ⋮ Intertemporal equilibrium with heterogeneous agents, endogenous dividends and collateral constraints ⋮ Endogenous discounting, wariness, and efficient capital taxation

Cites Work

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• Inefficiency and the Demand for "Money" in a Sequence Economy
• Rational Asset Pricing Bubbles
• On the Efficiency of a Monetary Equilibrium
• On Transaction Costs, Inessential Sequence Economies and Money
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