Listagem FGV EPGE - Ensaios Econômicos por Assunto "Equilíbrio econômico"
Itens para a visualização no momento 1-20 of 22
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Avaliação dos impactos macro-econômicos e de bem-estar da reforma tributária no Brasil
2009-05-19Este artigo avalia o impacto sobre a economia brasileira de uma reforma tributária que reduza distorções e cumulatividade, utilizando para tal experimento a atual proposta do Ministério da Fazenda. Utiliza-se um modelo ... -
Bailey's measure of the welfare costs of inflation as a general-equilibrium measure
2017Lucas (2000) has shown that Bailey’s formula for the welfare costs of inflation can be regarded as an approximation to the general-equilibrium measures that emerge from the Sidrauski and the shopping-time models. In this ... -
Collateral avoids Ponzi schemes in incomplete markets
2001-05-01Without introducing neither debt constraints nor transversality conditions to avoid the possibility of Ponzi schemes, we show existence of equilibrium in an incomplete markets economy with a collateral structure. -
Competitive equilibria in infinite-horizon collateralized economies with default penalties
2010-03-16Araújo, Páscoa and Torres-Martinez (2002) have shown that, without imposing either debt constraints or transversality conditions, Ponzi schemes are ruled out in infinite horizon economies with default when collateral is ... -
A contractive method for computing the stationary solution of the euler equation
2002-09-01A contractive method for computing stationary solutions of intertemporal equilibrium models is provide. The method is is implemented using a contraction mapping derived from the first-order conditions. The deterministic ... -
Endogenous collateral
2003-11-04We 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
2001-05-01We 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 ... -
Endogenous debt constraints in collateralized economies with default penalties
2011-06-30In infinite horizon financial markets economies, competitive equilibria fail to exist if one does not impose restrictions on agents' trades that rule out Ponzi schemes. When there is limited commitment and collateral ... -
Exogenous expectations on endogenous uncertainty: recursive equilibrium and survival
2011-04-18This paper analyses general equilibrium models with finite heterogeneous agents having exogenous expectations on endogenous uncertainty. It is shown that there exists a recursive equilibrium with the state space consisting ... -
Fracking, China and the Global Economy
2016-05-04We develop an intertemporal model of the international economy, where tradeable intermediate goods are produced with capital, labor and hydrocarbons, and used in the production of non-tradeable consumption and investment ... -
Health Care Reform or More Affordable Health Care?
2016-06-17This article investigates the impact on the U.S. economy of making health care more affordable. We compare health care cost reductions with the Patient Protection and Affordable Care Act (PPACA) using a rich life cycle ... -
Local concavifiability of preferences and determinacy of equilibrium
1991-05In this paper we consider strictly convex monotone continuous complete preorderings on R+n that are locally representable by a concave utility function. By Alexandroff 's (1939) theorem, this function is twice dífferentiable ... -
Non-emptiness of the alpha-core
2011-05-06We prove non-emptiness of the alpha-core for balanced games with non-ordered preferences, extending and generalizing in several aspects the results of Scarf (1971), Border (1984), Florenzano (1989), Yannelis (1991) and ... -
Normality under uncertainty
2003-09-30Consider the demand for a good whose consumption be chosen prior to the resolution of uncertainty regarding income. How do changes in the distribution of income affect the demand for this good? In this paper we show that ... -
A note on learning chaotic sunspot equilibrium
2001-05-01In this paper we prove convergence to chaotic sunspot equilibrium through two learning rules used in the bounded rationality literature. The rst one shows the convergence of the actual dynamics generated by simple adaptive ... -
On Ponzi schemes in infinite horizon collateralized economies with default penalties
2011-06-30Araujo, Páscoa and Torres-Martínez (2002) showed that, without imposing any debt constraint, Ponzi schemes are ruled out in infinite horizon economies with limited commitment when collateral is the only mechanism that ...
