Financial markets with endogenous transaction costs

Martins-da-Rocha, V.F. and Vailakis, Y. (2010) Financial markets with endogenous transaction costs. Economic Theory, 45(1-2), pp. 65-97. (doi:10.1007/s00199-009-0498-1)

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Abstract

The paper proposes an alternative general equilibrium formulation of financial asset economies with transaction costs. Transaction costs emerge endogenously at equilibrium and reflect agents’ decisions of intermediating financial activities at the expense of providing labor services.

Item Type:Articles
Status:Published
Refereed:Yes
Glasgow Author(s) Enlighten ID:Vailakis, Professor Yiannis
Authors: Martins-da-Rocha, V.F., and Vailakis, Y.
College/School:College of Social Sciences > Adam Smith Business School > Economics
Journal Name:Economic Theory
Publisher:Springer
ISSN:0938-2259
ISSN (Online):1432-0479

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