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 |
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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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