Browsing FGV EPGE - Ensaios Econômicos by Author "Barbachan, José Santiago Fajardo"

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    • Endogenous collateral 

      Pascoa, Mario Rui; Araújo, Aloísio Pessoa de; Barbachan, José Santiago Fajardo
      2003-11-04
      We study an economy where there are two types of assets. Consumers’ promises are the primitive defaultable assets secured by collateral chosen by the consumers themselves. The purchase of these personalized assets by ...

    • Endogenous collateral: arbitrage and equilibrium without bounded short sales 

      Pascoa, Mario Rui; Araújo, Aloísio Pessoa de; Barbachan, José Santiago Fajardo
      2001-05-01
      We study the implications of the absence of arbitrage in an two period economy where default is allowed and assets are secured by collateral choosen by the borrowers. We show that non arbitrage sale prices of assets are ...