有交易费用的实物资产经济预期均衡的存在性及实物资产的产生过程

The Existence of Expectation Equilibrium of Real-Asset Economies with Transaction Costs and the Producing Process of Real Assets

严格证明了有交易费用的实物资产经济预期均衡的存在性 ,分析了交易费用在其中的作用 ;解释了实物资产的产生过程和中介机构的盈利原理。

In this paper, we strictly prove the existence of equilibrium of real-asset economies with transaction costs and analyze the functions of the transaction costs; meanwhile we explain the producing process of real assets and the principle of intermediaries' profit making and put forward some problems worthy of further being studied as well.