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Financial innovation, precautionary saving and the risk-free rate

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  • Elul, Ronel
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    Bibliographic Info

    Article provided by Elsevier in its journal Journal of Mathematical Economics.

    Volume (Year): 27 (1997)
    Issue (Month): 1 (February)
    Pages: 113-131

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    Handle: RePEc:eee:mateco:v:27:y:1997:i:1:p:113-131

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    Web page: http://www.elsevier.com/locate/jmateco

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    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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    1. Miles Kimball & Philippe Weil, 1992. "Precautionary Saving and Consumption Smoothing Across Time and Possibilities," NBER Working Papers 3976, National Bureau of Economic Research, Inc.
    2. Werner, Jan, 1985. "Equilibrium in economies with incomplete financial markets," Journal of Economic Theory, Elsevier, Elsevier, vol. 36(1), pages 110-119, June.
    3. Guiso, Luigi & Jappelli, Tullio & Terlizzese, Daniele, 1992. "Earnings uncertainty and precautionary saving," Journal of Monetary Economics, Elsevier, Elsevier, vol. 30(2), pages 307-337, November.
    4. Philippe Weil, 1992. "Equilibrium Asset Prices With Undiversifiable Labor Income Risk," NBER Working Papers 3975, National Bureau of Economic Research, Inc.
    5. Elul Ronel, 1995. "Welfare Effects of Financial Innovation in Incomplete Markets Economies with Several Consumption Goods," Journal of Economic Theory, Elsevier, Elsevier, vol. 65(1), pages 43-78, February.
    6. Geanakoplos, J D & Polemarchakis, H M, 1980. "On the Disaggregation of Excess Demand Functions," Econometrica, Econometric Society, Econometric Society, vol. 48(2), pages 315-31, March.
    7. Duffie Darrell & Rahi Rohit, 1995. "Financial Market Innovation and Security Design: An Introduction," Journal of Economic Theory, Elsevier, Elsevier, vol. 65(1), pages 1-42, February.
    8. Chae, Suchan, 1988. "Existence of competitive equilibrium with incomplete markets," Journal of Economic Theory, Elsevier, Elsevier, vol. 44(1), pages 179-188, February.
    9. Mehra, Rajnish & Prescott, Edward C., 1985. "The equity premium: A puzzle," Journal of Monetary Economics, Elsevier, Elsevier, vol. 15(2), pages 145-161, March.
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    Cited by:
    1. Alessandro Citanna & Karl Schmedders, 2002. "Controlling Price Volatility Through Financial Innovation," Discussion Papers, Northwestern University, Center for Mathematical Studies in Economics and Management Science 1338, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    2. P. Jean-Jacques Herings & Karl Schmedders, 2001. "Computing Equilibria in Finance Economies with Incomplete Markets and Transaction Costs," Discussion Papers, Northwestern University, Center for Mathematical Studies in Economics and Management Science 1318, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    3. Chiaki Hara & Atsushi Kajii, 2003. "On the Range of the Risk-Free Interest Rate in Incomplete Markets," KIER Working Papers, Kyoto University, Institute of Economic Research 577, Kyoto University, Institute of Economic Research.
    4. Laurent E. Calvet, 1999. "Incomplete Markets and Volatility," Harvard Institute of Economic Research Working Papers, Harvard - Institute of Economic Research 1865, Harvard - Institute of Economic Research.
    5. Jiaqian Chen & Patrick A. Imam, 2011. "Causes of Asset Shortages in Emerging Markets," IMF Working Papers, International Monetary Fund 11/114, International Monetary Fund.
    6. Chaiki Hara & Atsushi Kajii, 2004. "Risk-Free Bond Prices in Incomplete Markets with Recursive Utility Functions and Multiple Beliefs," KIER Working Papers, Kyoto University, Institute of Economic Research 590, Kyoto University, Institute of Economic Research.
    7. Christopher L. Foote & Kristopher S. Gerardi & Paul S. Willen, 2012. "Why did so many people make so many ex post bad decisions? the causes of the foreclosure crisis," Working Paper, Federal Reserve Bank of Atlanta 2012-07, Federal Reserve Bank of Atlanta.

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