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EQUILIBRIUM ASSET PRICES AND SAVINGS OF HETEROGENEOUS AGENTS IN THE PRESENCE OF INCOMPLETE MARKETS AND PORTFOLIO CONSTRAINTS

机译：在不完全市场和投资组合限制的情况下，均衡资产价格和异质代理节省的资产价格

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作者
Albert Marcet; Kenneth J. Singleton;
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年度 1999
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原文格式 PDF
正文语种 eng
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1. Capital asset market equilibrium with liquidity risk, portfolio constraints, and asset price bubbles [J] . Jarrow Robert Mathematics and financial economics . 2019,第1期

机译：具有流动性风险，投资组合约束和资产价格泡沫的资本资产市场均衡
2. Computing Equilibrium Wealth Distributions in Models with Heterogeneous-Agents, Incomplete Markets and Idiosyncratic Risk [J] . Muffasir Badshah, Paul Beaumont, Anuj Srivastava Computational economics . 2013,第2期

机译：在具有异构Agent，不完全市场和异质风险的模型中计算均衡财富分布
3. Complex Dynamics in Equilibrium Asset Pricing Models with Boundedly Rational, Heterogeneous Agents [J] . PAUL M. BEAUMONT, YUANYING GUAN, ALEC N. KERCHEVAL Complexity . 2014,第3期

机译：具有有限理性，异构主体的均衡资产定价模型中的复杂动力学
4. Futures pricing model based on the method of Optimal Growth Portfolio in the discrete-time incomplete markets [C] . Ying Yuan, Kun Mei, Fuling Bian ICMI 2007;International Conference on Management Innovation . 2007

机译：离散时间不完全市场中基于最优增长投资组合方法的期货定价模型
5. General equilibrium continuous-time asset pricing in the presence of: (1) Portfolio insurers and (2) non-price-taking investors. [D] . Basak, Suleyman. 1993

机译：存在以下情况时的一般均衡连续时间资产定价：（1）投资组合保险公司和（2）非定价投资者。
6. A detailed heterogeneous agent model for a single asset financial market with trading via an order book [O] . Roberto Mota Navarro, Hernán Larralde -1

机译：通过订单簿进行交易的单资产金融市场的详细异构代理模型
7. Financial Development and the Distributional Effects of Monetary Policy Do the distributional consequences of monetary policy depend on the extent of financial development? Should optimal monetary policy vary across countries? In order to answer these questions, we develop a monetary growth production model with heterogeneous agents. In our economy, optimal policy needs to weigh the effects of policy across two groups — capital owners and individuals who hold liquid assets. While banks help limit the exposure to inflation, there are limits because money alleviates the frictions of private information and limited communication. In this environment, we compare two economies that are identical in every aspect except for their level of financial development. In a country with limited financial development, a stock market is absent. In the other, an equity market is active. In either economy, inflation adversely affects capital formation and output. Individuals who hold liquid assets are always adversely affected by inflation, but the attitude of capital owners depends on the level of financial development. In particular, in the presence of a stock market, the impact of inflation on the welfare of capital owners is non-monotonic. Nevertheless, optimal monetary policy is always more conservative at higher levels of financial development. [O] . TINA M. Edgar A. Ghossoub, TINA M. Robert R. Reedy 100

机译：金融发展和货币政策的分配效应货币政策的分配后果是否取决于金融发展的程度？各国的最优货币政策应该不同吗？为了回答这些问题，我们开发了一个具有异构代理的货币增长生产模型。在我们的经济中，最优政策需要权衡两个群体的政策效应 - 资本所有者和持有流动资产的个人。虽然银行帮助限制通胀风险，但存在限制，因为资金减轻了私人信息的摩擦和有限的沟通。在这种环境下，我们比较两个经济体在各个方面都是相同的，除了它们的金融发展水平。在金融发展有限的国家，缺乏股票市场。另一方面，股票市场活跃。在任一经济体中，通胀都会对资本形成和产出产生不利影响持有流动资产的个人总是受到通货膨胀的不利影响，但资本所有者的态度取决于金融发展的水平。特别是，在股票市场存在的情况下，通货膨胀对资本所有者福利的影响是非单调的。尽管如此，在较高的金融发展水平下，最优货币政策总是更加保守。

EQUILIBRIUM ASSET PRICES AND SAVINGS OF HETEROGENEOUS AGENTS IN THE PRESENCE OF INCOMPLETE MARKETS AND PORTFOLIO CONSTRAINTS

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