  Existence of stochastic financial equilibria giving rise to semimartingale
asset prices is established under a general class of assumptions. These
equilibria are expressed in real terms and span complete markets or markets
with withdrawal constraints.We deal with random endowment density streams which
admit jumps and general time-dependent utility functions on which only
regularity conditions are imposed. As an integral part of the proof of the main
result, we establish a novel characterization of semimartingale functions.
