Long-lived collateralized assets and bubbles

Aloisio Araujo, Mário R. Páscoa, Juan Pablo Torres-Martínez

Research output: Contribution to journalArticlepeer-review

13 Citations (Scopus)


When infinite-lived agents trade long-lived assets secured by durable goods, equilibrium exists without any additional debt constraints or uniform impatience conditions on agents' characteristics. Also, price bubbles are absent when physical endowments are uniformly bounded away from zero.

Original languageEnglish
Pages (from-to)260-271
Number of pages12
JournalJournal of Mathematical Economics
Issue number3
Publication statusPublished - May 2011


  • Asset pricing bubbles
  • Collateralized assets
  • Existence of equilibrium


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