Constrained suboptimality and financial innovation in GEI with a single commodity
AbstractIn this paper we exploit global analysis to explore welfare properties of a standard one-commodity GEI, under different notions of constrained Pareto optimality. In a unifying framework we revise and extend some of the leading results of the literature on incomplete markets and government intervention, including those concerning financial innovation.
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Bibliographic InfoPaper provided by Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) in its series CORE Discussion Papers with number 2000019.
Date of creation: 00 Mar 2000
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Find related papers by JEL classification:
- D52 - Microeconomics - - General Equilibrium and Disequilibrium - - - Incomplete Markets
- D60 - Microeconomics - - Welfare Economics - - - General
- G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
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