Endogenous Trading Constraints with Incomplete Asset Markets

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dc.contributor.author ABRAHAM, Arpad
dc.contributor.author CARCELES-POVEDA, Eva
dc.date.accessioned 2010-04-20T10:51:36Z
dc.date.available 2010-04-20T10:51:36Z
dc.date.issued 2010
dc.identifier.citation Journal of Economic Theory, 2010, 145, 3, 974–1004 en
dc.identifier.uri http://hdl.handle.net/1814/13740
dc.description Available online 13 October 2009
dc.description.abstract This paper endogenizes the borrowing constraints on capital in a production economy with incomplete markets. We find that these limits get looser with income, a property that is consistent with US data on credit limits. The framework with endogenous limits is then used to study the effects of a revenue neutral tax reform that eliminates capital income taxes. Our results illustrate that it is very important to take into account the effects of tax policies on the limits. Throughout the transition, these effects can be big enough to change the overall conclusion about the desirability of a tax reform. en
dc.language.iso en en
dc.relation.ispartof Journal of Economic Theory en
dc.relation.uri http://0-www.sciencedirect.com.biblio.eui.eu/science/journal/00220531
dc.title Endogenous Trading Constraints with Incomplete Asset Markets en
dc.type Article en
dc.identifier.doi 10.1016/j.jet.2009.10.006
dc.neeo.contributor ABRAHAM|Arpad|aut|EUI70012
dc.neeo.contributor ÁBRAHÁM|Árpád|aut|
dc.neeo.contributor CARCELES-POVEDA|Eva|aut|
dc.neeo.contributor ÁBRAHÁM|Árpád|aut|
dc.neeo.contributor CÁRCELES-POVEDA|Eva|aut|
dc.neeo.contributor ÁBRAHÁM|Árpád|aut|
dc.neeo.contributor CÁRCELES-POVEDA|Eva|aut|
dc.neeo.contributor ÁBRAHÁM|Árpád|aut|
dc.neeo.contributor CÁRCELES-POVEDA|Eva|aut|
dc.neeo.contributor ÁBRAHÁM|Árpád|aut|
dc.neeo.contributor CÁRCELES-POVEDA|Eva|aut|
dc.neeo.contributor CÁRCELES-POVEDA|Eva|aut|
dc.identifier.volume 145 en


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