Minimum Investment Requirements, Financial Market Globalization, and Symmetry Breaking

Minimum Investment Requirements, Financial Market Globalization, and Symmetry Breaking

We incorporate wealth heterogeneity and the minimum investment requirements in the model of Matsuyama (2004, Econometrica) and provide a complete characterization of symmetry breaking. In particular, we identify the extensive margin of investment as a key channel through which the interest rate may...

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Bibliographic Details
Main Author: ZHANG, Haiping
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2014
Subjects:
Financial frictions
financial market globalization
minimum investment requirements
symmetry breaking
Econometrics
Finance
Online Access:https://ink.library.smu.edu.sg/soe_research/1699
https://ink.library.smu.edu.sg/context/soe_research/article/2698/viewcontent/MIR_FI.pdf
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Institution: Singapore Management University
Language: English

Internet

https://ink.library.smu.edu.sg/soe_research/1699
https://ink.library.smu.edu.sg/context/soe_research/article/2698/viewcontent/MIR_FI.pdf

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