Financial Frictions and Segmented Asset Markets
نویسنده
چکیده
This issue is devoted in large part to summaries of the sessions of our conference on “Financial Frictions and Segmented Asset Markets.” Different approaches have been used to incorporate financial market imperfections into tractable general equilibrium models, emphasizing different frictions in asset markets: lack of commitment in financial contracts, limited participation and market segmentation, and informational asymmetries. The idea of this conference was to bring together researchers who have experimented with various approaches, to exchange ideas, explore different applications, and discuss how to confront these models with the data. In charge of putting together the program was Guido Lorenzoni of MIT. The conference included twelve presentations over two days.
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