Modelos de equilíbrio geral dinâmico com custo de default
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2013-06-20
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Braido, Luís Henrique Bertolino
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This work consists on a survey of some papers from the literature of general equilibrium with default costs. We focus on the study of Kehoe and Levine (1993) and Alvarez and Jermann (2000) models. We also describe some adaptations of Al- varez and Jermann’s model, such as the models developed by Hellwig and Lorenzoni (2009) and Azariadis and Kaas (2008), and we compare them with Huggett’s (1993) model, where the market is exogenously incomplete. Finally, we point out one flaw present in Krueger and Perry’s (2010) algorithm to compute stationary equilibria from economies such as Alvarez and Jermann.