"Wealth transfers and the role of collateral when lifetimes are uncertain" by Abdelkrim Seghir

Selected Works of Juan Pablo Torres-Martínez

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Wealth transfers and the role of collateral when lifetimes are uncertain

Economic Theory (2008)

Abdelkrim Seghir, American University in Cairo
Juan Pablo Torres-Martínez, University of Chile

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Abstract

We develop a general equilibrium model of wealth transfers in the presence of uncertain lifetimes and default. Without introducing exogenous debt constraints, agents are allowed to make collateral-backed promises at any state of their life span.

Keywords

Wealth transfers,
collateralized asset markets,
uncertain lifetimes,
donations,
inheritance

Disciplines

Economic Theory and
Finance

Publication Date

2008

Citation Information

Seghir, A. and J. P. Torres-Martínez (2008): "Wealth transfers and the role of collateral when lifetimes are uncertain," Economic Theory, volume 36, pages 471-502.