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	General equilibrium with endogenous uncertainty and default
	Graciela Chichilnisky ; Ho-Mou Wu
	2012-04-24 ; 2012-04-24
关键词	Default Financial innovation Individual risk Collective risk Endogenous uncertainty
中文摘要	We study the introduction of new assets that are defined in expected values rather than state by state. Individual default emerges naturally in an economy where such assets are introduced without completing all contingency markets. We further provide conditions under which individual default is propagated endogenously into a collective risk of widespread default in general equilibrium. We prove existence of a general equilibrium with endogenous uncertainty.
语种	英语
内容类型	期刊论文
源URL	[http://ir.calis.edu.cn/hdl/211010/3938]
专题	北京大学
推荐引用方式 GB/T 7714	Graciela Chichilnisky,Ho-Mou Wu. General equilibrium with endogenous uncertainty and default[J],2012, 2012.
APA	Graciela Chichilnisky,&Ho-Mou Wu.(2012).General equilibrium with endogenous uncertainty and default..
MLA	Graciela Chichilnisky,et al."General equilibrium with endogenous uncertainty and default".(2012).

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