Publisher:
Graduate School of Economics, Hitotsubashi University, Tokyo
A dynamic economy with markets of equities and bonds is considered. The rational expectations equilibrium is defined in an asset pricing model and a condition under which the Modigliani-Miller theorem holds is shown. In an aggregate model the...
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ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
Signature:
VS 132 (2010,3)
Inter-library loan:
No inter-library loan
A dynamic economy with markets of equities and bonds is considered. The rational expectations equilibrium is defined in an asset pricing model and a condition under which the Modigliani-Miller theorem holds is shown. In an aggregate model the existence of a rational expectations equilibrium is proved