Stabsseminar ved Jørgen Haug

Det er stabsseminar på Institutt for foretaksøkonomi ved Jørgen Haug fra NHH på fredag 26. oktober.

25.10.2001 - Torunn G. Saunes

Tema: "Financial Prices with Local Substitution and Distant Complementarity"
Tid: Fredag 26. oktober, kl. 12.15-13.30
Sted: Aud. E

Abstract:
I characterize the equilibrium state price deflator, riskless interest rate, and risk premia in an exchange economy where the representative consumer derives felicity from a durable commodity and previous standards of living. The results extend previous numerical analyses of the corresponding production economy, and complement analyses of economies with a nondurable commodity and habit formation. Introducing durabilities into a pure exchange economy with habit formation eectively resolves the problem of assuring a positive state price deflator with viable parameter values.

Paper er tilgjengelig på instituttets hjemmeside: http://www.nhh.no/for/seminars/2001-fall/261001.pdf.

Kontaktpersoner: Jørgen Haug (59426) og Hans K. Hvide (59283)