IDEAS home Printed from https://ideas.repec.org/a/beo/journl/v52y2007i173p36-84.html
   My bibliography  Save this article

Pareto’S Optimum In Models Of General Economic Equilibrium With The Asset Market

Author

Listed:
  • Zoran Popović

Abstract

A model of the general economic equilibrium of sequential structures includes the asset market, where assets are instruments of sequential income redistribution. The model should explain relative prices of commodities, on one hand, and establish the asset pricing as an instrument of income redistribution, on the other, enabling the analysis of sequential income transfers. This paper mainly researches Pareto’s optimum of a defined mathematical model of the general economic equilibrium in both complete and incomplete asset markets. The existence of the latter partly disables an economic system to transfer income through time sequences properly, which results in equilibrium allocations not reaching Pareto’s optimum.

Suggested Citation

  • Zoran Popović, 2007. "Pareto’S Optimum In Models Of General Economic Equilibrium With The Asset Market," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 52(173), pages 36-84, April - J.
    • Handle: RePEc:beo:journl:v:52:y:2007:i:173:p:36-84
    as

    Download full text from publisher

    File URL: http://ea.ekof.bg.ac.rs/pdf/173/1_2%20Pareto.pdf
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    General economic equilibrium; Dynamic models; Complete and incomplete asset markets; Pareto’s optimum;
    All these keywords.

    JEL classification:

    • D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
    • D52 - Microeconomics - - General Equilibrium and Disequilibrium - - - Incomplete Markets
    • C60 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - General
    • E25 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Aggregate Factor Income Distribution

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:beo:journl:v:52:y:2007:i:173:p:36-84. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Goran Petrić (email available below). General contact details of provider: https://edirc.repec.org/data/efbeoyu.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.