[PDF] Top 20 General equilibrium in economies with uncertain delivery

... agents in a coalition send false reports (that do not contradict the truthful reports of the other agents) which imply that the net trades that are carried out are those that were agreed for state ...endowments ... See full document

... limited in many places. In some jurisdictions, foreclosure and sale can occur quite rapidly, while in others, foreclosure may take many months or even ...approach in which it is not necessary ... See full document

... models in policy’s evaluation over the last decades. Developments in DSGE models have been central in the macroeconomic literature over the last three ...fluctuations in aggregate economic ... See full document

... made with olive oil or vegetable oil, have a thin or thick crust, ...verify in a court of law whether the state of nature is 1 or 2, but nevertheless has bought A1 (delivery of A in state 1) ... See full document

... truthful delivery of the desired wealth transfers by choosing, for delivery in each state, goods that are relatively cheap in this state but relatively expensive in the other ...The ... See full document

... of equilibrium (Section 2 ), under very general conditions (the utility functions must be concave and strictly ...of equilibrium is that agents receive the cheapest bundle among those that they ... See full document

... context in which the seller has superior information about the quality of the goods that she brings to the market, it is useful to consider a generalized notion of a good, incorporating in its description ... See full document

... is in fact not aware that these are two different states. In this case, the agent does not participating in the complete markets for contingent ...prices in ω 1 and ω 2 , the agent only ... See full document

... of general competitive equilibrium imposes testable implications in pure exchange economies, upon observation of aggregate commodity endowments, the distribution of nominal income, and the ... See full document

... for uncertain delivery in the general equilibrium theory is based on the pessimistic preferences just ...described. With these preferences, we incorporate uncertainty and ... See full document

... that in the previous section the indirect utility function, V i (x i , p), has been shown to be quasi-concave in the first ...of equilibrium (in the internal market) we have the classical ... See full document

... In economies with uncertain delivery, objects of choice are lists of bundles in- stead of ...bundles in the list for ...lists in exchange for the agent’s ...prefer ... See full document

... In general equilibrium theory, several proposals have been made regarding the introduction of private ...model in which private information is represented by a partition of a finite set of ... See full document

... computable general equilibrium model (CGE), which incorporates the economic behaviour of four economic agents: firms, households, government and the rest of the ...commodity. With regard to the rest ... See full document

... Contudo, o ponto em que prevalece a demanda efetiva é estabelecido de acor- do com, dentre outros parâmetros, o estado de expectativas de longo prazo dos agentes. Havendo uma alteração neste estado, há um deslocamento ... See full document

... In order to assess these results, we now conduct a short empirical study into the impact of monetary policy on bank and non-bank investment expenditure. 4 Using annual data for the period 1947-1997 and applying a ... See full document

... The distortions induced by the tax replacement mechanisms on the intertemporal labor·leisure decisions' are of primordial importance in terms of the efficiency effects [r] ... See full document

... 0 with a debt which equals the sum of the wage earnings she receives at the beginning of period 0, dividend earnings from …rms she receives at the beginning of period 0, dividend earnings from banks she receives ... See full document

... graphs in figures (2), (3) and (4) we have the ...derived in propositions 2 and 6 is close to the Baumol-Tobin money ...elasticities with respect to the interest rate, but the differences are ... See full document

... papers in the …nancial literature have used bankruptcy as an instrument to identify channels for spillover e¤ects among ...related with executives’career concerns, and document that local …rms experience ... See full document