; ; ; "ActiveFedora::Aggregation::ListSource" . a , ; "Trade Using Assets which are Divisible at a Cost"; ; "batchuser@example.com"; "Wallace, Neil", "Marimon, Ramon, 1953-"; "Federal Reserve Bank of Minneapolis"; "Asset", "Trade", "Depreciation"; "D50 - General Equilibrium and Disequilibrium: General"; "The consequences of costly divisibility of assets are studied using a model with the following features. The demand for assets is generated from an overlapping generations model with a continuum of agents in each generation and with intra-generation trade (intermediation) ruled out. There is a once-for-all supply of a stock of nonnegative-dividend assets in a large size, and there is a costly technology for dividing them into smaller sizes. Stationary equilibria are shown to exist. In contrast with similar models with costless divisibility of assets, competitive equilibria are not necessarily desirable; there can be Pareto-ordered equilibria."^^; "Trade using assets divisible at a cost / Ramon Marimon, Neil Wallace."; "1986-03"; "2018-03-13T20:23:32.369690311+00:00"^^; "https://doi.org/10.21034/wp.288"; ; "19871200jet4302"; "https://creativecommons.org/licenses/by-nc/4.0/"; "2020-05-04T16:08:18.415125315+00:00"^^; "https://creativecommons.org/licenses/by-nc/4.0/"; "Introduction ; Nondepreciating assets: structure and equilibrium ; Nondepreciating assets : features of stationary equilibria ; Disintegrating assets ; Existence proofs ; Concluding remarks."; "Research Paper"; "489", "823"; "Working paper (Federal Reserve Bank of Minneapolis. Research Department)"; "288"; "Asset", "Trade", "Depreciation"; ; ; ; ; "Federal Reserve Bank of Minneapolis. Research Department"; "Published in _Journal of Economic Theory_ (Vol. 43, Iss. 2, December 1987, pp. 223-251), https://doi.org/10.1016/0022-0531(87)90059-7."^^; ; "Publication" . ; .