Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/194252
Authors: 
Salas, Sergio
Year of Publication: 
2017
Citation: 
[Journal:] Estudios de Economía [ISSN:] 0718-5286 [Volume:] 44 [Year:] 2017 [Issue:] 1 [Pages:] 105-119
Abstract: 
This paper analytically solves a heterogeneous agent model with idiosyncratic shocks to marginal utility of consumption and explores the effects of the borrowing constraint on the price of the asset, the composition of borrowers and lenders in the credit market, and wealth inequality. Results are derived in a stylized model and in a pedagogical fashion.
Subjects: 
Asset prices
borrowing constraints
wealth inequality
heterogeneous agents
JEL: 
E00
E44
G10
Creative Commons License: 
https://creativecommons.org/licenses/by-nc-sa/4.0/
Document Type: 
Article
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