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Piero Gottardi

Citations

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Working papers

  1. Sarah Auster & Piero Gottardi & Ronald Wolthoff, 2022. "Simultaneous Search and Adverse Selection," ECONtribute Discussion Papers Series 135, University of Bonn and University of Cologne, Germany.

    Cited by:

    1. Chang, Hung-Chi & Li, Yiting, 2025. "The screening role of market tightness in a competitive search equilibrium with adverse selection," Journal of Economic Theory, Elsevier, vol. 225(C).
    2. Auster, Sarah & Gottardi, Piero, 2024. "Sorting versus screening in decentralized markets with adverse selection," Journal of Economic Theory, Elsevier, vol. 220(C).

  2. Sarah Auster & Piero Gottardi, 2022. "Sorting versus Screening in Decentralized Markets with Adverse Selection," ECONtribute Discussion Papers Series 180, University of Bonn and University of Cologne, Germany.

    Cited by:

    1. Francesco Del Prato & Paolo Zacchia, 2025. "Gatekeeping, Selection, and Welfare," Papers 2505.24460, arXiv.org, revised Feb 2026.
    2. Sarah Auster & Piero Gottardi & Ronald Wolthoff, 2022. "Simultaneous Search and Adverse Selection," Working Papers tecipa-734, University of Toronto, Department of Economics.

  3. Bisin, Alberto & Clementi, Gian Luca & Gottardi, Piero, 2022. "Capital Structure and Hedging Demand with Incomplete Markets," CEPR Discussion Papers 16968, C.E.P.R. Discussion Papers.

    Cited by:

    1. Piero Gottardi & Douglas Gale, 2017. "Equilibrium Theory of Banks' Capital Structure," 2017 Meeting Papers 380, Society for Economic Dynamics.

  4. Abraham, Arpad & Gottardi, Piero & Hubmer, Joachim & Mayr, Lukas, 2022. "Tax Wedges, Financial Frictions and Misallocation," CEPR Discussion Papers 17526, C.E.P.R. Discussion Papers.

    Cited by:

    1. Wang, Zhenyu, 2025. "Place-based policies, financial friction, and city size: Evidence from China’s institutional opening-up," Economic Analysis and Policy, Elsevier, vol. 87(C), pages 1522-1556.

  5. Gottardi, Piero & Farinha Luz, Vitor & Moreira, Humberto, 2021. "Risk Classification in Insurance Markets with Risk and Preference Heterogeneity," CEPR Discussion Papers 16310, C.E.P.R. Discussion Papers.

    Cited by:

    1. Ka Chun Cheung & Sheung Chi Phillip Yam & Fei Lung Yuen & Yiying Zhang, 2025. "Optimal design of reinsurance contracts with a continuum of risk assessments," Papers 2504.17468, arXiv.org, revised Jan 2026.
    2. Xia Han & Bin Li & Yao Luo, 2026. "Optimal Insurance with Information Asymmetry: Nonlinear and Linear Pricing," Working Papers tecipa-815, University of Toronto, Department of Economics.

  6. Gottardi, Piero & Bisin, Alberto, 2020. "Efficient Policy Interventions in an Epidemic," CEPR Discussion Papers 15386, C.E.P.R. Discussion Papers.

    Cited by:

    1. Matteo Bizzarri & Fabrizio Panebianco & Paolo Pin, 2023. "Homophily and Infections: Static and Dynamic Effects," CSEF Working Papers 672, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
    2. Carlos Garriga & Rodolfo E. Manuelli & Siddhartha Sanghi, 2022. "Optimal Management of an Epidemic: Lockdown, Vaccine and Value of Life," Working Papers 2020-046, Federal Reserve Bank of St. Louis.
    3. Wang, Zongrun & Zhou, Ling & Mi, Yunlong & Shi, Yong, 2022. "Measuring dynamic pandemic-related policy effects: A time-varying parameter multi-level dynamic factor model approach," Journal of Economic Dynamics and Control, Elsevier, vol. 139(C).
    4. Toxvaerd, Flavio, 2024. "Contacts, altruism and competing externalities," European Economic Review, Elsevier, vol. 167(C).

  7. Piero Gottardi & Vincent Maurin & Cyril Monnet, 2019. "Online Appendix to "A theory of repurchase agreements, collateral re-use, and repo intermediation"," Online Appendices 18-284, Review of Economic Dynamics.

    Cited by:

    1. Chang, Jin-Wook & Chuan, Grace, 2024. "Contagion in debt and collateral markets," Journal of Monetary Economics, Elsevier, vol. 148(C).
    2. Kang, Kee-Youn, 2021. "Optimal contract for asset trades: Collateralizing or selling?," Journal of Financial Markets, Elsevier, vol. 56(C).
    3. Nissinen, Juuso & Sihvonen, Markus, 2024. "Bond convenience curves and funding costs," Journal of International Economics, Elsevier, vol. 151(C).
    4. Sangyup Choi & Inkee Jang & Kee-Youn Kang & Hyunpyung Kim, 2024. "Haircut, Interest Rate, and Collateral Quality in the Tri-Party Repo Market: Evidence and Theory," Working Papers 11, University of Liverpool, Department of Economics.
    5. Kazuya Suzuki & Kana Sasamoto, 2022. "Quantitative Analysis of Haircuts: Evidence from the Japanese Repo and Securities Lending Markets," Bank of Japan Working Paper Series 22-E-13, Bank of Japan.
    6. Fukai, Hiroki, 2021. "Optimal interventions on strategic fails in repo markets," MPRA Paper 106090, University Library of Munich, Germany.
    7. Mark Paddrik & Carlos Ramirez, 2025. "Treasury Tri-party Repo Pricing," Working Papers 25-07, Office of Financial Research, US Department of the Treasury.
    8. Saki Bigio & Liyan Shi, 2020. "Repurchase Options in the Market for Lemons," NBER Working Papers 27732, National Bureau of Economic Research, Inc.
    9. Benjamin Lester & Pierre-Olivier Weill & Ariel Zetlin-Jones, 2019. "RED Special Issue on Fragmented Financial Markets: An Introduction," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 33, pages 1-3, July.
    10. Park, Hyejin, 2021. "Collateral reuse, collateral mismatch, and financial crises," The Quarterly Review of Economics and Finance, Elsevier, vol. 79(C), pages 367-380.
    11. Jamie Coen & Patrick Coen & Anne-Caroline Hüser, 2024. "Collateral demand in wholesale funding markets," Bank of England working papers 1082, Bank of England.
    12. Feixue Gong & Gregory Phelan, 2020. "Debt collateralization, capital structure, and maximal leverage," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 70(2), pages 579-605, September.
    13. Feixue Gong & Gregory Phelan, 2023. "Collateral constraints, tranching, and price bases," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 75(2), pages 317-340, February.
    14. Levent Altinoglu & Jin-Wook Chang, 2022. "Information Externalities, Funding Liquidity, and Fire Sales," Finance and Economics Discussion Series 2022-052, Board of Governors of the Federal Reserve System (U.S.).
    15. Lewis, Brittany Almquist, 2023. "Creditor rights, collateral reuse, and credit supply," Journal of Financial Economics, Elsevier, vol. 149(3), pages 451-472.
    16. Jin-Wook Chang & Grace Chuan, 2025. "Collateral Reuse and Financial Stability," Finance and Economics Discussion Series 2025-035, Board of Governors of the Federal Reserve System (U.S.).
    17. Justus Inhoffen & Iman van Lelyveld, 2023. "Safe Asset Scarcity and Re-use in the European Repo Market," Working Papers 787, DNB.
    18. Jank, Stephan & Mönch, Emanuel & Schneider, Michael, 2022. "Safe asset shortage and collateral reuse," SAFE Working Paper Series 355, Leibniz Institute for Financial Research SAFE.
    19. Coen, Jamie & Coen, Patrick & Hüser, Anne-Caroline, 2024. "Collateral Demand in Wholesale Funding Markets," TSE Working Papers 130323, Toulouse School of Economics (TSE).
    20. Grilli, Ruggero & Giri, Federico & Gallegati, Mauro, 2020. "Collateral rehypothecation, safe asset scarcity, and unconventional monetary policy," Economic Modelling, Elsevier, vol. 91(C), pages 633-645.
    21. Viktoria Baklanova & Cecilia Caglio & Marco Cipriani & Adam Copeland, 2019. "The Use of Collateral in Bilateral Repurchase and Securities Lending Agreements," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 33, pages 228-249, July.
    22. Yu Awaya & Hiroki Fukai & Makoto Watanabe, 2021. "A Model Of Collateral: Endogenizing The Borrowing Constraint," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 62(3), pages 1131-1151, August.
    23. Maurin, Vincent, 2022. "Asset scarcity and collateral rehypothecation," Journal of Financial Intermediation, Elsevier, vol. 52(C).
    24. Jean-Edouard Colliard & Gabrielle Demange, 2021. "Asset Dissemination Through Dealer Markets," Management Science, INFORMS, vol. 67(10), pages 6211-6234, October.
    25. Christian Julliard & Gabor Pinter & Karamfil Todorov & Kathy Yuan, 2022. "What drives repo haircuts? Evidence from the UK market," Bank of England working papers 985, Bank of England.
    26. Johannes Brumm & Michael Grill & Felix Kubler & Karl Schmedders, 2023. "Re-use of collateral: Leverage, volatility, and welfare," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 47, pages 19-46, January.
    27. Schürhoff, Norman & Dieler, Tobias & Mancini, Loriano, 2021. "(In)efficient repo markets," CEPR Discussion Papers 15782, C.E.P.R. Discussion Papers.
    28. Dominguez, Begona & Gomis-Porqueras, Pedro, 2023. "Accessing U.S. Dollar Swap Lines: Macroeconomic Implications for a Small Open Economy," MPRA Paper 118293, University Library of Munich, Germany.
    29. Madison, Florian, 2024. "Asymmetric information in frictional markets for liquidity: Collateralized credit vs asset sale," Journal of Economic Dynamics and Control, Elsevier, vol. 159(C).
    30. Greppmair, Stefan & Jank, Stephan, 2023. "Collateral scarcity and market functioning: Insights from the eurosystem securities lending facilities," Discussion Papers 31/2023, Deutsche Bundesbank.
    31. Sebastian Infante & Zack Saravay, 2020. "What Drives U.S. Treasury Re-use?," Finance and Economics Discussion Series 2020-103r1, Board of Governors of the Federal Reserve System (U.S.), revised 24 Aug 2021.
    32. Issa, George & Jarnecic, Elvis, 2024. "Collateral reuse as a direct funding mechanism in repo markets," Pacific-Basin Finance Journal, Elsevier, vol. 86(C).

  8. Antonio Cabrales & Francesco Feri & Piero Gottardi & Miguel A. Meléndez-Jiménez, 2018. "Can there be a Market for Cheap-Talk Information? An Experimental Investigation," CESifo Working Paper Series 6975, CESifo.

    Cited by:

    1. Burdea, Valeria & Montero, Maria & Sefton, Martin, 2023. "Communication with partially verifiable information: An experiment," Games and Economic Behavior, Elsevier, vol. 142(C), pages 113-149.
    2. Cabrales, Antonio & Feri, Francesco & Gottardi, Piero & Meléndez-Jiménez, Miguel A., 2025. "Strategic information transmission and social preferences," Journal of Economic Behavior & Organization, Elsevier, vol. 237(C).
    3. Konstantinos Ioannidis, 2022. "Habitual Communication," Tinbergen Institute Discussion Papers 22-016/I, Tinbergen Institute.

  9. Douglas Gale & Piero Gottardi, 2017. "Equilibrium Theory of Banks' Capital Structure," CESifo Working Paper Series 6580, CESifo.

    Cited by:

    1. Jaevin Park, 2020. "Inside Money, Business Cycle, and Bank Capital Requirements," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 36, pages 103-121, April.
    2. Van Nieuwerburgh, Stijn & Landvoigt, Tim & Elenev, Vadim, 2017. "A Macroeconomic Model with Financially Constrained Producers and Intermediaries," CEPR Discussion Papers 12282, C.E.P.R. Discussion Papers.

  10. Piero Gottardi & Vincent Maurin & Cyril Monnet, 2017. "A Theory of Repurchase Agreements, Collateral Re-use, and Repo Intermediation," CESifo Working Paper Series 6579, CESifo.

    Cited by:

    1. Vyacheslav Arbuzov & Yu Awaya & Hiroki Fukai & Makoto Watanabe, 2019. "Endogenous Repo Cycles," CESifo Working Paper Series 7518, CESifo.
    2. Chang, Jin-Wook & Chuan, Grace, 2024. "Contagion in debt and collateral markets," Journal of Monetary Economics, Elsevier, vol. 148(C).
    3. Kang, Kee-Youn, 2021. "Optimal contract for asset trades: Collateralizing or selling?," Journal of Financial Markets, Elsevier, vol. 56(C).
    4. Nissinen, Juuso & Sihvonen, Markus, 2024. "Bond convenience curves and funding costs," Journal of International Economics, Elsevier, vol. 151(C).
    5. Sangyup Choi & Inkee Jang & Kee-Youn Kang & Hyunpyung Kim, 2024. "Haircut, Interest Rate, and Collateral Quality in the Tri-Party Repo Market: Evidence and Theory," Working Papers 11, University of Liverpool, Department of Economics.
    6. Duc Thi Luu & Mauro Napoletano & Paolo Barucca & Stefano Battiston, 2018. "Collateral Unchained: Rehypothecation networks, concentration and systemic effects," LEM Papers Series 2018/05, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    7. Kazuya Suzuki & Kana Sasamoto, 2022. "Quantitative Analysis of Haircuts: Evidence from the Japanese Repo and Securities Lending Markets," Bank of Japan Working Paper Series 22-E-13, Bank of Japan.
    8. Fukai, Hiroki, 2021. "Optimal interventions on strategic fails in repo markets," MPRA Paper 106090, University Library of Munich, Germany.
    9. Mark Paddrik & Carlos Ramirez, 2025. "Treasury Tri-party Repo Pricing," Working Papers 25-07, Office of Financial Research, US Department of the Treasury.
    10. Cyril Monnet & Borghan N. Narajabad, 2017. "Why Rent When You Can Buy?," Finance and Economics Discussion Series 2017-094, Board of Governors of the Federal Reserve System (U.S.).
    11. Saki Bigio & Liyan Shi, 2020. "Repurchase Options in the Market for Lemons," NBER Working Papers 27732, National Bureau of Economic Research, Inc.
    12. Benjamin Lester & Pierre-Olivier Weill & Ariel Zetlin-Jones, 2019. "RED Special Issue on Fragmented Financial Markets: An Introduction," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 33, pages 1-3, July.
    13. Ozdenoren, Emre & Yuan, Kathy & Zhang, Shengxing, 2023. "Dynamic asset-backed security design," LSE Research Online Documents on Economics 119375, London School of Economics and Political Science, LSE Library.
    14. Park, Hyejin, 2021. "Collateral reuse, collateral mismatch, and financial crises," The Quarterly Review of Economics and Finance, Elsevier, vol. 79(C), pages 367-380.
    15. Jamie Coen & Patrick Coen & Anne-Caroline Hüser, 2024. "Collateral demand in wholesale funding markets," Bank of England working papers 1082, Bank of England.
    16. Jin-Wook Chang, 2019. "Collateralized Debt Networks with Lender Default," Finance and Economics Discussion Series 2019-083, Board of Governors of the Federal Reserve System (U.S.).
    17. Feixue Gong & Gregory Phelan, 2020. "Debt collateralization, capital structure, and maximal leverage," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 70(2), pages 579-605, September.
    18. Feixue Gong & Gregory Phelan, 2023. "Collateral constraints, tranching, and price bases," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 75(2), pages 317-340, February.
    19. Michele Loberto, 2019. "Safety traps, liquidity and information-sensitive assets," Temi di discussione (Economic working papers) 1216, Bank of Italy, Economic Research and International Relations Area.
    20. Levent Altinoglu & Jin-Wook Chang, 2022. "Information Externalities, Funding Liquidity, and Fire Sales," Finance and Economics Discussion Series 2022-052, Board of Governors of the Federal Reserve System (U.S.).
    21. Kee-Youn Kang, 2019. "Central Bank purchases of private assets: An evaluation," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 31, pages 326-346, January.
    22. Lewis, Brittany Almquist, 2023. "Creditor rights, collateral reuse, and credit supply," Journal of Financial Economics, Elsevier, vol. 149(3), pages 451-472.
    23. Jin-Wook Chang & Grace Chuan, 2025. "Collateral Reuse and Financial Stability," Finance and Economics Discussion Series 2025-035, Board of Governors of the Federal Reserve System (U.S.).
    24. Justus Inhoffen & Iman van Lelyveld, 2023. "Safe Asset Scarcity and Re-use in the European Repo Market," Working Papers 787, DNB.
    25. Jank, Stephan & Mönch, Emanuel & Schneider, Michael, 2022. "Safe asset shortage and collateral reuse," SAFE Working Paper Series 355, Leibniz Institute for Financial Research SAFE.
    26. Coen, Jamie & Coen, Patrick & Hüser, Anne-Caroline, 2024. "Collateral Demand in Wholesale Funding Markets," TSE Working Papers 130323, Toulouse School of Economics (TSE).
    27. Grilli, Ruggero & Giri, Federico & Gallegati, Mauro, 2020. "Collateral rehypothecation, safe asset scarcity, and unconventional monetary policy," Economic Modelling, Elsevier, vol. 91(C), pages 633-645.
    28. Viktoria Baklanova & Cecilia Caglio & Marco Cipriani & Adam Copeland, 2019. "The Use of Collateral in Bilateral Repurchase and Securities Lending Agreements," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 33, pages 228-249, July.
    29. Yu Awaya & Hiroki Fukai & Makoto Watanabe, 2021. "A Model Of Collateral: Endogenizing The Borrowing Constraint," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 62(3), pages 1131-1151, August.
    30. Liu, Zehao & Sinclair, Andrew J., 2022. "Wealth, endogenous collateral quality, and financial crises," Journal of Economic Theory, Elsevier, vol. 204(C).
    31. Maurin, Vincent, 2022. "Asset scarcity and collateral rehypothecation," Journal of Financial Intermediation, Elsevier, vol. 52(C).
    32. Jean-Edouard Colliard & Gabrielle Demange, 2021. "Asset Dissemination Through Dealer Markets," Management Science, INFORMS, vol. 67(10), pages 6211-6234, October.
    33. Christian Julliard & Gabor Pinter & Karamfil Todorov & Kathy Yuan, 2022. "What drives repo haircuts? Evidence from the UK market," Bank of England working papers 985, Bank of England.
    34. Johannes Brumm & Michael Grill & Felix Kubler & Karl Schmedders, 2023. "Re-use of collateral: Leverage, volatility, and welfare," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 47, pages 19-46, January.
    35. Schürhoff, Norman & Dieler, Tobias & Mancini, Loriano, 2021. "(In)efficient repo markets," CEPR Discussion Papers 15782, C.E.P.R. Discussion Papers.
    36. Dominguez, Begona & Gomis-Porqueras, Pedro, 2023. "Accessing U.S. Dollar Swap Lines: Macroeconomic Implications for a Small Open Economy," MPRA Paper 118293, University Library of Munich, Germany.
    37. Madison, Florian, 2024. "Asymmetric information in frictional markets for liquidity: Collateralized credit vs asset sale," Journal of Economic Dynamics and Control, Elsevier, vol. 159(C).
    38. Parlatore, Cecilia, 2019. "Collateralizing liquidity," Journal of Financial Economics, Elsevier, vol. 131(2), pages 299-322.
    39. Greppmair, Stefan & Jank, Stephan, 2023. "Collateral scarcity and market functioning: Insights from the eurosystem securities lending facilities," Discussion Papers 31/2023, Deutsche Bundesbank.
    40. Sebastian Infante & Zack Saravay, 2020. "What Drives U.S. Treasury Re-use?," Finance and Economics Discussion Series 2020-103r1, Board of Governors of the Federal Reserve System (U.S.), revised 24 Aug 2021.
    41. Issa, George & Jarnecic, Elvis, 2024. "Collateral reuse as a direct funding mechanism in repo markets," Pacific-Basin Finance Journal, Elsevier, vol. 86(C).
    42. Matteo Accornero, 2020. "Collateral Re-use, Liquidity and Financial Stability," Working Papers 10/20, Sapienza University of Rome, DISS.
    43. Ozdenoren, Emre & Yuan, Kathy & Zhang, Shengxing, 2018. "Dynamic Liquidity-Based Security Design," CEPR Discussion Papers 13069, C.E.P.R. Discussion Papers.
    44. Infante, Sebastian, 2019. "Liquidity windfalls: The consequences of repo rehypothecation," Journal of Financial Economics, Elsevier, vol. 133(1), pages 42-63.

  11. Gottardi, Piero & Meléndez-Jiménez, Miguel A. & Feri, Francesco, 2016. "Can there be a market for cheap-talk information? Some experimental evidence," CEPR Discussion Papers 11206, C.E.P.R. Discussion Papers.

    Cited by:

    1. Corgnet, Brice & Martin, Ludivine & Ndodjang, Peguy & Sutan, Angela, 2019. "On the merit of equal pay: Performance manipulation and incentive setting," European Economic Review, Elsevier, vol. 113(C), pages 23-45.
    2. Elias Damtew & Cees Leeuwis & Paul C Struik & Francesco Cecchi & Barbara Mierlo & Rico Lie & Berga Lemaga & Katarzyna Cieslik, 2021. "Communicative interventions for collective action in the management of potato late blight: evidence from a framed field game experiment in Ethiopia," Food Security: The Science, Sociology and Economics of Food Production and Access to Food, Springer;The International Society for Plant Pathology, vol. 13(2), pages 255-271, April.
    3. Cabrales, Antonio & Feri, Francesco & Gottardi, Piero & Meléndez-Jiménez, Miguel A., 2020. "Can there be a market for cheap-talk information? An experimental investigation," Games and Economic Behavior, Elsevier, vol. 121(C), pages 368-381.
    4. Gurguc, Zeynep & Drouvelis, Michalis & Ray, Indrajit, 2017. "Transparency is overrated: communicating in a coordination game with private information," CEPR Discussion Papers 12353, C.E.P.R. Discussion Papers.
    5. Cabrales, Antonio & Drouvelis, Michalis & Gurguc, Zeynep & Ray, Indrajit, 2018. "Do we need to listen to all stakeholders?: communicating in a coordination game with private information," Cardiff Economics Working Papers E2018/23, Cardiff University, Cardiff Business School, Economics Section.

  12. Auster, Sarah; Gottardi, Piero, 2016. "Competing Mechanisms in Markets for Lemons," Economics Working Papers ECO2016/01, European University Institute.

    Cited by:

    1. Naoki Aizawa & Soojin Kim & Serena Rhee, 2020. "Labor Market Screening and the Design of Social Insurance: An Equilibrium Analysis of the Labor Market for the Disabled," NBER Working Papers 27478, National Bureau of Economic Research, Inc.
    2. Cai, Xiaoming & Gautier, Pieter A. & Wolthoff, Ronald P., 2017. "Search frictions, competing mechanisms and optimal market segmentation," Journal of Economic Theory, Elsevier, vol. 169(C), pages 453-473.
    3. Sarah Auster & Piero Gottardi, 2022. "Sorting versus Screening in Decentralized Markets with Adverse Selection," ECONtribute Discussion Papers Series 180, University of Bonn and University of Cologne, Germany.
    4. James Albrecht & Xiaoming Cai & Pieter Gautier & Susan Vroman & Pieter A. Gautier, 2024. "Competitive Search with Private Information: Can Price Signal Quality?," CESifo Working Paper Series 11309, CESifo.
    5. Attar, Andrea & Campioni, Eloisa & Mariotti, Thomas & Piaser, Gwenaël, 2019. "Competing Mechanisms and Folk Theorems: Two Examples," TSE Working Papers 19-1014, Toulouse School of Economics (TSE), revised Sep 2020.
    6. Attar, Andrea & Campioni, Eloisa & Piaser, Gwenaël, 2018. "On competing mechanisms under exclusive competition," Games and Economic Behavior, Elsevier, vol. 111(C), pages 1-15.
    7. Konstantinos Giannakas & Murray Fulton, 2020. "On the market for “Lemons”: quality provision in markets with asymmetric information," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 7(1), pages 1-6, December.
    8. Sarah Auster & Piero Gottardi & Ronald Wolthoff, 2022. "Simultaneous Search and Adverse Selection," Working Papers tecipa-734, University of Toronto, Department of Economics.

  13. Cabrales, Antonio; Gale, Douglas; Gottardi, Piero, 2015. "Financial Contagion in Networks," Economics Working Papers ECO2015/01, European University Institute.

    Cited by:

    1. Patrick Mugenzi & Thomas Kigabo Rusuhuzwa & Annie Uwimana, 2021. "Finding the Network Structure of Rwandan Interbank Market," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 12(3), pages 435-445, May.
    2. Xavier Giroud & Holger M. Mueller, 2017. "Firms' Internal Networks and Local Economic Shocks," NBER Working Papers 23176, National Bureau of Economic Research, Inc.
    3. Tran, Ngoc-Khanh & Vuong, Thao & Zeckhauser, Richard, 2016. "Loss Sequencing in Banking Networks: Threatened Banks as Strategic Dominoes," Working Paper Series 16-030, Harvard University, John F. Kennedy School of Government.
    4. Vega-Redondo, Fernando & Pin, Paolo & Ubfal, Diego & Benedetti-Fasil, Cristiana & Brummitt, Charles & Rubera, Gaia & Hovy, Dirk & Fornaciari, Tommaso, 2019. "Peer Networks and Entrepreneurship: A Pan-African RCT," IZA Discussion Papers 12848, IZA Network @ LISER.
    5. Hüser, Anne-Caroline & Kok, Christoffer, 2019. "Mapping bank securities across euro area sectors: comparing funding and exposure networks," Working Paper Series 2273, European Central Bank.
    6. Ghamami, Samim & Glasserman, Paul & Young, Hobart, 2022. "Collateralized networks," LSE Research Online Documents on Economics 107496, London School of Economics and Political Science, LSE Library.
    7. Wang, Tianxi, 2021. "An Interbank Network Determined by the Real Economy," Economics Discussion Papers 30021, University of Essex, Department of Economics.
    8. Elliott, Matthew & Georg, Co-Pierre & Hazell, Jonathon, 2021. "Systemic risk shifting in financial networks," Journal of Economic Theory, Elsevier, vol. 191(C).
    9. Eboli, Mario, 2019. "A flow network analysis of direct balance-sheet contagion in financial networks," Journal of Economic Dynamics and Control, Elsevier, vol. 103(C), pages 205-233.
    10. Kok, Christoffer & Hałaj, Grzegorz & Hüser, Anne-Caroline & Perales, Cristian & van der Kraaij, Anton, 2017. "The systemic implications of bail-in: a multi-layered network approach," Working Paper Series 2010, European Central Bank.
    11. Elliott, Matthew & Georg, Co-Pierre & Hazell, Jonathon, 2021. "Systemic risk shifting in financial networks," LSE Research Online Documents on Economics 123924, London School of Economics and Political Science, LSE Library.
    12. Bertrand Candelon & Laurent Ferrara & Marc Joëts, 2018. "Global Financial interconnectedness: A non-linear assessment of the uncertainty channel," EconomiX Working Papers 2018-2, University of Paris Nanterre, EconomiX.
    13. Richard B. Berner & Stephen G. Cecchetti & Kermit L. Schoenholtz, 2019. "Stress Testing Networks: The Case of Central Counterparties," NBER Working Papers 25686, National Bureau of Economic Research, Inc.
    14. Ozili, Peterson K, 2017. "Earnings Management in Interconnected Networks: A Perspective," MPRA Paper 92647, University Library of Munich, Germany.
    15. Paul Glasserman & H. Peyton Young, 2016. "Contagion in Financial Networks," Journal of Economic Literature, American Economic Association, vol. 54(3), pages 779-831, September.
    16. Tut, Daniel, 2020. "FinTech and the COVID-19 Pandemic: Evidence from Electronic Payment Systems," MPRA Paper 102401, University Library of Munich, Germany.
    17. Castagna, Alina & Chentouf, Leila & Ernst, Ekkehard, 2017. "Economic vulnerabilities in Italy: A network analysis using similarities in sectoral employment," GLO Discussion Paper Series 50, Global Labor Organization (GLO).
    18. Noemí NAVARRO & H. Dan TRAN, 2018. "Shock Diffusion in Large Regular Networks: The Role of Transitive Cycles," Cahiers du GREThA (2007-2019) 2018-10, Groupe de Recherche en Economie Théorique et Appliquée (GREThA).
    19. Elliott, M. & Georg, C-P. & Hazell, J., 2020. "Systemic Risk-Shifting in Financial Networks," Cambridge Working Papers in Economics 2068, Faculty of Economics, University of Cambridge.
    20. Mario Eboli, 2019. "The Concentration of the Banking Industry and Its Exposure to Financial Contagion," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 11(4), pages 95-103, April.
    21. Daron Acemoglu & Asuman Ozdaglar & Alireza Tahbaz-Salehi, 2015. "Networks, Shocks, and Systemic Risk," NBER Working Papers 20931, National Bureau of Economic Research, Inc.
    22. Matthew O. Jackson & Brian W. Rogers & Yves Zenou, 2017. "The Economic Consequences of Social-Network Structure," Journal of Economic Literature, American Economic Association, vol. 55(1), pages 49-95, March.
    23. Agostino Capponi & Felix C. Corell & Joseph E. Stiglitz, 2020. "Optimal Bailouts and the Doom Loop with a Financial Network," NBER Working Papers 27074, National Bureau of Economic Research, Inc.
    24. Paul Glasserman & Peyton Young, 2015. "Contagion in Financial Networks," Economics Series Working Papers 764, University of Oxford, Department of Economics.
    25. Glasserman, Paul & Young, H. Peyton, 2016. "Contagion in financial networks," LSE Research Online Documents on Economics 68681, London School of Economics and Political Science, LSE Library.
    26. Navarro, Noemí & Tran, Dan H., 2018. "Shock Diffusion in Regular Networks: The Role of Transitive Cycles," MPRA Paper 86267, University Library of Munich, Germany.
    27. Paul Glasserman & H. Peyton Young, 2015. "Contagion in Financial Networks," Working Papers 15-21, Office of Financial Research, US Department of the Treasury.
    28. Michel Grabisch & Agnieszka Rusinowska & Xavier Venel, 2019. "Diffusion in countably infinite networks," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-02340011, HAL.
    29. Antonio Cabrales & Piero Gottardi & Fernando Vega-Redondo, 2017. "Risk Sharing and Contagion in Networks," The Review of Financial Studies, Society for Financial Studies, vol. 30(9), pages 3086-3127.
    30. Stefano Zedda & Antonella Spinace-Casale, 2021. "Modeling and Simulating Cross Country Banking Contagion Risks," JRFM, MDPI, vol. 14(8), pages 1-16, July.

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    Cited by:

    1. Sara Cecchetti & Marco Rocco & Laura Sigalotti, 2016. "Contagion and fire sales in banking networks," Temi di discussione (Economic working papers) 1050, Bank of Italy, Economic Research and International Relations Area.
    2. Elliott, M. & Golub, B & Leduc, M. V., 2020. "Supply Network Formation and Fragility," Cambridge Working Papers in Economics 2028, Faculty of Economics, University of Cambridge.
    3. Zhang, Xiaoyuan & Zhang, Tianqi, 2022. "Dynamic credit contagion and aggregate loss in networks," The North American Journal of Economics and Finance, Elsevier, vol. 62(C).
    4. Daron Acemoglu & Ufuk Akcigit & William Kerr, 2015. "Networks and the Macroeconomy: An Empirical Exploration," NBER Chapters, in: NBER Macroeconomics Annual 2015, Volume 30, pages 273-335, National Bureau of Economic Research, Inc.
    5. Ethan Cohen-Cole & Eleonora Patacchini & Yves Zenou, 2014. "Static and Dynamic Networks in Interbank Markets," EIEF Working Papers Series 1408, Einaudi Institute for Economics and Finance (EIEF), revised Sep 2014.
    6. Briana Chang & Shengxing Zhang, 2015. "Endogenous Market Making and Network Formation," Discussion Papers 1534, Centre for Macroeconomics (CFM).
    7. Lorenzo Burlon, 2015. "Ownership networks and aggregate volatility," Temi di discussione (Economic working papers) 1004, Bank of Italy, Economic Research and International Relations Area.
    8. Tran, Ngoc-Khanh & Vuong, Thao & Zeckhauser, Richard, 2016. "Loss Sequencing in Banking Networks: Threatened Banks as Strategic Dominoes," Working Paper Series 16-030, Harvard University, John F. Kennedy School of Government.
    9. van der Leij, M. & in 't Veld, D. & Hommes, C.H., 2016. "The formation of a core periphery structure in heterogeneous financial networks," CeNDEF Working Papers 16-07, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance.
    10. José-Luis Peydró [AP BACKUP – NOW EXTERNAL] & Kenan Huremovic & Enrique Moral-Benito & Fernando Vega-Redondo & Gabriel Jiménez & José-Luis Peydró, 2020. "Production and Financial Networks in Interplay: Crisis Evidence from Supplier-Customer and Credit Registers," Working Papers 1191, Barcelona School of Economics.
    11. Chang, Jin-Wook & Chuan, Grace, 2024. "Contagion in debt and collateral markets," Journal of Monetary Economics, Elsevier, vol. 148(C).
    12. Donaldson, Jason Roderick & Micheler, Eva, 2018. "Resaleable debt and systemic risk," LSE Research Online Documents on Economics 68068, London School of Economics and Political Science, LSE Library.
    13. Dziubiński, Marcin & Goyal, Sanjeev, 2013. "Network design and defence," Games and Economic Behavior, Elsevier, vol. 79(C), pages 30-43.
    14. Brunetti, Celso & Harris, Jeffrey H. & Mankad, Shawn & Michailidis, George, 2019. "Interconnectedness in the interbank market," Journal of Financial Economics, Elsevier, vol. 133(2), pages 520-538.
    15. Benjamin Bernard & Agostino Capponi & Joseph E. Stiglitz, 2017. "Bail-ins and Bail-outs: Incentives, Connectivity, and Systemic Stability," NBER Working Papers 23747, National Bureau of Economic Research, Inc.
    16. Csóka, Péter & Herings, P. Jean-Jacques, 2021. "Uniqueness of Clearing Payment Matrices in Financial Networks," Research Memorandum 014, Maastricht University, Graduate School of Business and Economics (GSBE).
    17. Gupta, Aparna & Wang, Runzu & Lu, Yueliang, 2021. "Addressing systemic risk using contingent convertible debt – A network analysis," European Journal of Operational Research, Elsevier, vol. 290(1), pages 263-277.
    18. Hué, Sullivan & Lucotte, Yannick & Tokpavi, Sessi, 2019. "Measuring network systemic risk contributions: A leave-one-out approach," Journal of Economic Dynamics and Control, Elsevier, vol. 100(C), pages 86-114.
    19. Aymeric Vié & Alfredo J. Morales, 2021. "How Connected is Too Connected? Impact of Network Topology on Systemic Risk and Collapse of Complex Economic Systems," Computational Economics, Springer;Society for Computational Economics, vol. 57(4), pages 1327-1351, April.
    20. Elliott, Matthew & Georg, Co-Pierre & Hazell, Jonathon, 2021. "Systemic risk shifting in financial networks," Journal of Economic Theory, Elsevier, vol. 191(C).
    21. Christophe Bravard & Jacques Durieu & Sudipta Sarangi & Corinne Touati, 2024. "Influence and Counter-Influence in Networks [Mécanismes d'influence et de contre-influence dans les réseaux]," Post-Print hal-04733885, HAL.
    22. Christophe Bravard & Liza Charroin & Corinne Touati, 2015. "Optimal design and defense of networks under link attacks," Working Papers halshs-01176928, HAL.
    23. Miao He & Yanhong Guo, 2022. "Systemic Risk Contributions of Financial Institutions during the Stock Market Crash in China," Sustainability, MDPI, vol. 14(9), pages 1-14, April.
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    27. Hamed Amini & Zhongyuan Cao & Agnès Sulem, 2025. "Fire Sales, Default Cascades and Complex Financial Networks," Post-Print hal-03425599, HAL.
    28. Donaldson, Jason & Micheler, Eva, 2016. "Resaleable debt and systemic risk," LSE Research Online Documents on Economics 66042, London School of Economics and Political Science, LSE Library.
    29. Arreola Hernandez, Jose & Kang, Sang Hoon & Shahzad, Syed Jawad Hussain & Yoon, Seong-Min, 2020. "Spillovers and diversification potential of bank equity returns from developed and emerging America," The North American Journal of Economics and Finance, Elsevier, vol. 54(C).
    30. Marcin Dziubinski & Sanjeev Goyal & Adrien Vigier, 2015. "Conflict and Networks," Cambridge Working Papers in Economics 1565, Faculty of Economics, University of Cambridge.
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    37. Sanjeev Goyal & Adrien Vigier, 2014. "Attack, Defense and Contagion in Networks," Cambridge Working Papers in Economics 1451, Faculty of Economics, University of Cambridge.
    38. Elliott, Matthew & Georg, Co-Pierre & Hazell, Jonathon, 2021. "Systemic risk shifting in financial networks," LSE Research Online Documents on Economics 123924, London School of Economics and Political Science, LSE Library.
    39. Sauvagnat, Julien & Grassi, Basile, 2019. "Production Networks and Economic Policy," CEPR Discussion Papers 13953, C.E.P.R. Discussion Papers.
    40. Bertrand Candelon & Laurent Ferrara & Marc Joëts, 2018. "Global Financial interconnectedness: A non-linear assessment of the uncertainty channel," EconomiX Working Papers 2018-2, University of Paris Nanterre, EconomiX.
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    50. Michele Bonollo & Irene Crimaldi & Andrea Flori & Fabio Pammolli & Massimo Riccaboni, 2014. "Systemic importance of financial institutions: regulations, research, open issues, proposals," Working Papers 2/2014, IMT School for Advanced Studies Lucca, revised Mar 2014.
    51. Xiao-Li, Gong & Zhuo-Cheng, Wu & Xiong, Xiong & Wei, Zhang, 2025. "Research on sovereign credit and international banking industry tail risk contagion ----Perspective from double-layer complex network," International Review of Economics & Finance, Elsevier, vol. 99(C).
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    54. Andrew Ellul & Dasol Kim, 2022. "Counterparty Choice, Bank Interconnectedness, and Bank Risk-taking," Working Papers 22-06, Office of Financial Research, US Department of the Treasury.
    55. Dixit, Shiv & Subramanian, Krishnamurthy, 2020. "Bank Coordination and Monetary Transmission: Evidence from India," MPRA Paper 103169, University Library of Munich, Germany.
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    59. Jose Arreola Hernandez & Sang Hoon Kang & Seong‐Min Yoon, 2022. "Interdependence and portfolio optimisation of bank equity returns from developed and emerging Europe," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(1), pages 678-696, January.
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    79. Noemí NAVARRO & H. Dan TRAN, 2018. "Shock Diffusion in Large Regular Networks: The Role of Transitive Cycles," Cahiers du GREThA (2007-2019) 2018-10, Groupe de Recherche en Economie Théorique et Appliquée (GREThA).
    80. Jonas Heipertz & Amine Ouazad & Romain Rancière, 2019. "The Transmission of Shocks in Endogenous Financial Networks: A Structural Approach," NBER Working Papers 26049, National Bureau of Economic Research, Inc.
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    88. Donaldson, Jason Roderick & Micheler, Eva, 2018. "Resaleable debt and systemic risk," Journal of Financial Economics, Elsevier, vol. 127(3), pages 485-504.
    89. Daron Acemoglu & Asuman Ozdaglar & Alireza Tahbaz-Salehi, 2015. "Networks, Shocks, and Systemic Risk," NBER Working Papers 20931, National Bureau of Economic Research, Inc.
    90. Song, Jianhua & Zhang, Zhepei & So, Mike K.P., 2021. "On the predictive power of network statistics for financial risk indicators," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 75(C).
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    92. Ventura, Luigi & Ventura, Maria, 2021. "Migration, Diversity and Regional Risk Sharing," MPRA Paper 107712, University Library of Munich, Germany.
    93. Carlos Ramírez, 2019. "Regulating Financial Networks Under Uncertainty," Finance and Economics Discussion Series 2019-056, Board of Governors of the Federal Reserve System (U.S.).
    94. Goldstein, Itay & Kopytov, Alexandr & Shen, Lin & Xiang, Haotian, 2024. "Bank heterogeneity and financial stability," Journal of Financial Economics, Elsevier, vol. 162(C).
    95. Ramírez, Carlos, 2020. "Regulating financial networks under uncertainty," ESRB Working Paper Series 107, European Systemic Risk Board.
    96. He, Hongbo & Chen, Yiqing & Ou, Jinghua & Yao, Shujie, 2025. "Investing in relative market positions in interconnected financial markets: A strategy for international portfolio diversification," Pacific-Basin Finance Journal, Elsevier, vol. 89(C).
    97. Stefanny Ramirez & Dario Bauso, 2023. "Dynamic Games with Strategic Complements and Large Number of Players," Journal of Optimization Theory and Applications, Springer, vol. 197(1), pages 1-21, April.
    98. Paul Glasserman & Peyton Young, 2015. "Contagion in Financial Networks," Economics Series Working Papers 764, University of Oxford, Department of Economics.
    99. Zhou, Wei & Chen, Yan & Chen, Jin, 2024. "Dynamic volatility spillover and market emergency: Matching and forecasting," The North American Journal of Economics and Finance, Elsevier, vol. 71(C).
    100. Lu, Yiming & Wang, Yu, 2024. "Firms and banks common ownership, economic policy uncertainty, and firms’ R&D investment: Evidence from China," Finance Research Letters, Elsevier, vol. 60(C).
    101. Jose Arreola Hernandez & Sang Hoon Kang & Ron P. McIver & Seong-Min Yoon, 2021. "Network Interdependence and Optimization of Bank Portfolios from Developed and Emerging Asia Pacific Countries," Asia-Pacific Financial Markets, Springer;Japanese Association of Financial Economics and Engineering, vol. 28(4), pages 613-647, December.
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    Cited by:

    1. Torben M. Andersen, 2020. "Taxation of capital income in overlapping generations economies," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 22(5), pages 1245-1261, September.
    2. Bayer, Christian & Born, Benjamin & Luetticke, Ralph, 2023. "The liquidity channel of fiscal policy," Journal of Monetary Economics, Elsevier, vol. 134(C), pages 86-117.
    3. Hagedorn, Marcus & Acikgöz, Ömer & Holter, Hans & Wang, Yikai, 2018. "The Optimum Quantity of Capital and Debt," CEPR Discussion Papers 12952, C.E.P.R. Discussion Papers.
    4. Takumi Motoyama, 2017. "Fiscal sustainability under physical and human capital accumulation in an overlapping generations model," Discussion Papers in Economics and Business 17-05, Osaka University, Graduate School of Economics.
    5. YiLi Chien & Yi Wen, 2020. "Optimal Fiscal Policy under Capital Overaccumulation," Working Papers 2020-002, Federal Reserve Bank of St. Louis, revised 30 Aug 2021.
    6. François Le Grand & Xavier Ragot, 2017. "Optimal Fiscal Policy with Heterogeneous Agents and Aggregate Shocks," Working Papers hal-03458683, HAL.
    7. Krueger, Dirk & Ludwig, Alexander, 2018. "Optimal Taxes on Capital in the OLG Model with Uninsurable Idiosyncratic Income Risk," MEA discussion paper series 201802, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy.
    8. Tom Krebs & Martin Scheffel, 2024. "Optimal allocations in growth models with private information," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 78(1), pages 125-154, August.
    9. R. Anton Braun & Tomoyuki Nakajima, 2016. "Uninsured risk, stagnation, and fiscal policy," FRB Atlanta Working Paper 2016-4, Federal Reserve Bank of Atlanta.
    10. Yunmin Chen & Cheng Chen Yang & YiLi Chien, 2018. "Implementing the Modified Golden Rule? Optimal Ramsey Capital Taxation with Incomplete Markets Revisited," 2018 Meeting Papers 59, Society for Economic Dynamics.
    11. Marco Bassetto & Wei Cui, 2021. "A Ramsey Theory of Financial Distortions," Discussion Papers 2107, Centre for Macroeconomics (CFM).
    12. Shuichi Tsugawa, 2024. "Optimal redistributive policy under disaster risk: self-protection, social mitigation and social adaptation," Working Papers e203, Tokyo Center for Economic Research.
    13. Darong Dai & Guoqiang Tian & Liqun Liu, 2019. "Optimal Regional Insurance Provision under Privately Observable Shocks," 2019 Meeting Papers 448, Society for Economic Dynamics.
    14. François Le Grand & Xavier Ragot, 2023. "Should we increase or decrease public debt? Optimal fiscal policy with heterogeneous agents," Sciences Po Economics Publications (main) halshs-03922359, HAL.
    15. Woodland, A., 2016. "Taxation, Pensions, and Demographic Change," Handbook of the Economics of Population Aging, in: Piggott, John & Woodland, Alan (ed.), Handbook of the Economics of Population Aging, edition 1, volume 1, chapter 0, pages 713-780, Elsevier.
    16. Richard Jaimes, 2021. "Does idiosyncratic risk matter for climate policy?," Vniversitas Económica, Universidad Javeriana - Bogotá, vol. 0(0), pages 1-30.
    17. YiLi Chien & Yi Wen, 2019. "Optimal Ramsey Taxation in Heterogeneous Agent Economies with Quasi-Linear Preferences," Working Papers 2019-007, Federal Reserve Bank of St. Louis, revised 26 Jul 2021.
    18. Guanlong Ren & John Stachurski, 2018. "Dynamic Programming with Recursive Preferences: Optimality and Applications," Papers 1812.05748, arXiv.org, revised Jun 2020.
    19. Keshab Bhattarai, 2016. "Growth and Income Distributions in Four EU Economies," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 22(3), pages 263-277, August.
    20. Takumi Motoyama, 2019. "Sustainability of public debt under physical and human capital accumulation in an overlapping generations model," Journal of Economics, Springer, vol. 127(1), pages 19-45, June.
    21. Zhu, Jingjing & Huang, Tianyuan, 2024. "Public debt and welfare with machine learning," Finance Research Letters, Elsevier, vol. 69(PA).
    22. YiLi Chien & Yi Wen, 2019. "Don't Tax Capital---Optimal Ramsey Taxation in Heterogeneous Agent Economies with Quasi-Linear Preferences," 2019 Meeting Papers 258, Society for Economic Dynamics.
    23. Karol Mazur, 2022. "Risky human capital accumulation with endogenous skill premium," Economic Theory Bulletin, Springer;Society for the Advancement of Economic Theory (SAET), vol. 10(2), pages 283-291, October.
    24. Krebs, Tom & Scheffel, Martin, 2016. "Quantifizierung der gesamtwirtschaftlichen Effekte ausgewählter Reformvorschläge der Studie "Reforms, Investment and Growth: An Agenda for France, Germany and Europe"," Working Papers 16-04, University of Mannheim, Department of Economics.
    25. Ando, Sakai & Matsumura, Misaki, 2020. "Constrained inefficiency of competitive entrepreneurship," Journal of Mathematical Economics, Elsevier, vol. 88(C), pages 98-103.
    26. Darong Dai & Weige Huang & Liqun Liu & Guoqiang Tian, 2022. "Optimal Regional Insurance Provision: Do Federal Transfers Complement Local Debt?," Journal of Economics, Springer, vol. 137(1), pages 35-80, September.
    27. YiLi Chien & Yi Wen, 2017. "Optimal Ramsey Capital Income Taxation —A Reappraisal," Working Papers 2017-24, Federal Reserve Bank of St. Louis.
    28. Phitawat Poonpolkul, 2023. "Age-Dependent Risk Aversion: Re-evaluating Fiscal Policy Impacts of Population Aging," PIER Discussion Papers 198, Puey Ungphakorn Institute for Economic Research.
    29. Anastasios G Karantounias, 2018. "Optimal Fiscal Policy with Recursive Preferences," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 85(4), pages 2283-2317.
    30. Li, Meng, 2023. "Loss aversion and inefficient general equilibrium over the business cycle," Economic Modelling, Elsevier, vol. 118(C).
    31. Kuhn, Moritz & Krebs, Tom & Wright, Mark L.J., 2016. "Under-Insurance in Human Capital Models with Limited Enforcement," CEPR Discussion Papers 11612, C.E.P.R. Discussion Papers.
    32. Ryoji HIRAGUCHI, 2023. "Optimal Government Debt Policy in the Overlapping Generations Model with Idiosyncratic Capital Return Risk," Discussion papers 23063, Research Institute of Economy, Trade and Industry (RIETI).
    33. Poonpolkul, Phitawat, 2023. "Age-dependent risk aversion: Re-evaluating fiscal policy impacts of population aging," The Journal of the Economics of Ageing, Elsevier, vol. 26(C).

  16. Gale, Douglas & Gottardi, Piero, 2014. "Capital structure, investment, and fire sales," LSE Research Online Documents on Economics 60958, London School of Economics and Political Science, LSE Library.

    Cited by:

    1. Nishihara, Michi & Shibata, Takashi, 2019. "Liquidation, fire sales, and acquirers’ private information," Journal of Economic Dynamics and Control, Elsevier, vol. 108(C).
    2. Gazi I Kara & S Mehmet Ozsoy & Itay Goldstein, 2020. "Bank Regulation under Fire Sale Externalities," The Review of Financial Studies, Society for Financial Studies, vol. 33(6), pages 2554-2584.
    3. Douglas Gale & Tanju Yorulmazer, 2020. "Bank capital, fire sales, and the social value of deposits," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 69(4), pages 919-963, June.
    4. Ryuichiro Izumi & Yang Li, 2021. "Financial Stability with Fire Sale Externalities," Wesleyan Economics Working Papers 2021-002, Wesleyan University, Department of Economics.
    5. Luck, Stephan & Schempp, Paul, 2023. "Inefficient liquidity creation," Journal of Financial Intermediation, Elsevier, vol. 53(C).
    6. Douglas Gale & Piero Gottardi, 2018. "A General Equilibrium Theory of Capital Structure," 2018 Meeting Papers 264, Society for Economic Dynamics.
    7. Gale, Douglas & Gottardi, Piero, 2020. "A general equilibrium theory of banks' capital structure," Journal of Economic Theory, Elsevier, vol. 186(C).
    8. R. de O. Cavalcanti & P. K. Monteiro, 2016. "Enriching information to prevent bank runs," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 62(3), pages 477-494, August.
    9. GALE, Douglas; GOTTARDI, Piero, 2017. "Equilibrium theory of banks’ capital structure," Economics Working Papers ECO2017/02, European University Institute.
    10. Spiros Bougheas & David I. Harvey & Alan Kirman & Douglas Nelson & Alan P. Kirman & Douglas R. Nelson, 2024. "Systemic Risk in Banking, Fire Sales, and Macroeconomic Disasters," CESifo Working Paper Series 10991, CESifo.
    11. Christoph Bertsch & Mike Mariathasan, 2021. "Optimal bank leverage and recapitalization in crowded markets," BIS Working Papers 923, Bank for International Settlements.
    12. Hamed Ghiaie, 2018. "Shadow Bank run, Housing and Credit Market: The Story of a Recession," Thema Working Papers 2018-01, THEMA (Théorie Economique, Modélisation et Applications), CY Cergy-Paris University, ESSEC and CNRS.
    13. Bertsch, Christoph & Mariathasan, Mike, 2015. "Optimal Bank Capitalization in Crowded Markets," Working Paper Series 312, Sveriges Riksbank (Central Bank of Sweden), revised 01 Dec 2017.
    14. Mirza, Afrasiab & Stephens, Eric, 2022. "Securitization and aggregate investment efficiency," Journal of Financial Intermediation, Elsevier, vol. 52(C).

  17. Bisin, Alberto; & Gottardi, Piero; & Ruta, Guido, 2014. "Equilibrium corporate finance and intermediation," Economics Working Papers ECO2014/09, European University Institute.

    Cited by:

    1. Luis H. B. Braido & Victor Filipe Martins da Rocha, 2018. "Output contingent securities and efficient investment by firms," Post-Print hal-01097363, HAL.
    2. Michael Zierhut, 2017. "Constrained efficiency versus unanimity in incomplete markets," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 64(1), pages 23-45, June.
    3. Piero Gottardi & Douglas Gale, 2017. "Equilibrium Theory of Banks' Capital Structure," 2017 Meeting Papers 380, Society for Economic Dynamics.

  18. Piero Gottardi & Atsushi Kajii & Tomoyuki Nakajima, 2014. "Constrained inefficiency and optimal taxation with uninsurable risks," CIGS Working Paper Series 14-002E, The Canon Institute for Global Studies.

    Cited by:

    1. Nakajima, Tomoyuki & Takahashi, Shuhei, 2017. "The optimum quantity of debt for Japan," Journal of the Japanese and International Economies, Elsevier, vol. 46(C), pages 17-26.
    2. Piero Gottardi & Atsushi Kajii & Tomoyuki Nakajima, 2014. "Optimal taxation and debt with uninsurable risks to human capital accumulation," CIGS Working Paper Series 14-007E, The Canon Institute for Global Studies.
    3. Piero Gottardi & Atsushi Kajii & Tomoyuki Nakajima, 2011. "Optimal Taxation and Constrained Inefficiency in an Infinite-Horizon Economy with Incomplete Markets," CESifo Working Paper Series 3560, CESifo.
    4. Sigrid Röhrs & Christoph Winter, 2011. "Wealth inequality and the optimal level of government debt," ECON - Working Papers 051, Department of Economics - University of Zurich.
    5. Shuichi Tsugawa, 2024. "Optimal redistributive policy under disaster risk: self-protection, social mitigation and social adaptation," Working Papers e203, Tokyo Center for Economic Research.
    6. Hisahiro Naito, 2018. "Welfare-improving Consumption Tax in the Presence of Wage Tax under Idiosyncratic Returns from Investment and Incomplete Markets," Tsukuba Economics Working Papers 2018-002, Faculty of Humanities and Social Sciences, University of Tsukuba.
    7. Sakai Ando, 2018. "Size-Dependent Policies and Efficient Firm Creation," ISER Discussion Paper 1033, Institute of Social and Economic Research, The University of Osaka.
    8. Yena Park, 2014. "Constrained Efficiency in a Risky Human Capital Model," RCER Working Papers 585, University of Rochester - Center for Economic Research (RCER).
    9. Ando, Sakai & Matsumura, Misaki, 2020. "Constrained inefficiency of competitive entrepreneurship," Journal of Mathematical Economics, Elsevier, vol. 88(C), pages 98-103.
    10. Acikgoz, Omer, 2013. "Transitional Dynamics and Long-run Optimal Taxation Under Incomplete Markets," MPRA Paper 50160, University Library of Munich, Germany.
    11. Li, Meng, 2023. "Loss aversion and inefficient general equilibrium over the business cycle," Economic Modelling, Elsevier, vol. 118(C).

  19. Gale, Douglas & Piero, Gottardi, 2013. "Capital Structure and Investment Dynamics with Fire Sales," Working Papers 13-21, University of Pennsylvania, Wharton School, Weiss Center.

    Cited by:

    1. Finocchiaro, Daria & Lombardo, Giovanni & Mendicino, Caterina & Weil, Philippe, 2015. "Optimal Inflation with Corporate Taxation and Financial Constraints," Working Paper Series 311, Sveriges Riksbank (Central Bank of Sweden).

  20. GOTTARDI, Piero & KUBLER, Felix, 2012. "Dynamic Competitive Economies with Complete Markets and Collateral Constraints," Economics Working Papers ECO2012/17, European University Institute.

    Cited by:

    1. Ströbel, Johannes & Kuchler, Theresa & Dávila, Eduardo & Bailey, Michael, 2017. "House Price Beliefs And Mortgage Leverage Choice," CEPR Discussion Papers 12476, C.E.P.R. Discussion Papers.
    2. Phelan, Gregory & Toda, Alexis Akira, 2019. "Securitized markets, international capital flows, and global welfare," Journal of Financial Economics, Elsevier, vol. 131(3), pages 571-592.
    3. Feixue Gong & Gregory Phelan, 2015. "Debt Collateralization, Capital Structure, and Maximal Leverage," Department of Economics Working Papers 2015-13, Department of Economics, Williams College, revised Jul 2016.
    4. Boucekkine, Raouf & Nishimura, Kazuo & Venditti, Alain, 2015. "Introduction to financial frictions and debt constraints," Journal of Mathematical Economics, Elsevier, vol. 61(C), pages 271-275.
    5. Ngoc‐Sang Pham & Hien Pham, 2021. "Effects of credit limit on efficiency and welfare in a simple general equilibrium model," International Journal of Economic Theory, The International Society for Economic Theory, vol. 17(4), pages 446-470, December.
    6. Pham, Ngoc-Sang, 2023. "Some Lectures on Macroeconomics," MPRA Paper 119643, University Library of Munich, Germany.
    7. Bloise, G. & Citanna, A., 2019. "Asset shortages, liquidity and speculative bubbles," Journal of Economic Theory, Elsevier, vol. 183(C), pages 952-990.
    8. Gottardi, Piero & Maurin, Vincent & Monnet, Cyril, 2021. "Financial Fragility with Collateral Circulation," CEPR Discussion Papers 15757, C.E.P.R. Discussion Papers.
    9. Gromb, Denis & Vayanos, Dimitri, 2018. "The dynamics of financially constrained arbitrage," LSE Research Online Documents on Economics 84081, London School of Economics and Political Science, LSE Library.
    10. Piero Gottardi & Arpad Abraham, 2017. "Optimal Asset Division Rules for Dissolving Partnerships," 2017 Meeting Papers 1372, Society for Economic Dynamics.
    11. Felix Kubler & Johannes Brumm, 2013. "Applying Negishi's method to stochastic models with overlapping generations," 2013 Meeting Papers 1352, Society for Economic Dynamics.
    12. León-Ledesma, Miguel & Orrillo, Jaime, 2021. "Production, bankruptcy, and financial policies under collateral constraints," Mathematical Social Sciences, Elsevier, vol. 112(C), pages 109-119.
    13. Piero Gottardi & Vincent Maurin & Cyril Monnet, 2019. "A theory of repurchase agreements, collateral re-use, and repo intermediation," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 33, pages 30-56, July.
    14. Bosi, Stefano & Van, Cuong Le & Pham, Ngoc-Sang, 2018. "Intertemporal equilibrium with heterogeneous agents, endogenous dividends and collateral constraints," Journal of Mathematical Economics, Elsevier, vol. 76(C), pages 1-20.
    15. V. Filipe Martins-da-Rocha & Toan Phan & Yiannis Vailakis, 2019. "Debt Limits and Credit Bubbles in General Equilibrium," Working Paper 19-19, Federal Reserve Bank of Richmond.
    16. Suzuki, Shiba, 2018. "Inequality and asset fire sales," MPRA Paper 90906, University Library of Munich, Germany.
    17. Feixue Gong & Gregory Phelan, 2023. "Collateral constraints, tranching, and price bases," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 75(2), pages 317-340, February.
    18. Takashi Shibata & Michi Nishihara, 2019. "Credit Spread And Liquidation Value-Based Debt Financing Constraint," International Journal of Theoretical and Applied Finance (IJTAF), World Scientific Publishing Co. Pte. Ltd., vol. 22(05), pages 1-27, August.
    19. Christian Loenser & Joost Röttger & Andreas Schabert, 2022. "Financial Regulation, Interest Rate Responses, and Distributive Effects," ECONtribute Discussion Papers Series 143, University of Bonn and University of Cologne, Germany.
    20. Pham, Ngoc-Sang, 2018. "Credit limits and heterogeneity in general equilibrium models with a finite number of agents," MPRA Paper 88736, University Library of Munich, Germany.
    21. Piero Gottardi & Vincent Maurin & Cyril Monnet, 2023. "Fragility of Secured Credit Chains," Working Papers 23.01, Swiss National Bank, Study Center Gerzensee.
    22. Dirk Krueger & Fulin Li & Harald Uhlig, 2024. "Neoclassical Growth Transition Dynamics with One-Sided Commitment," PIER Working Paper Archive 24-020, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
    23. Bloise, Gaetano & Polemarchakis, Herakles & Vailakis, Yiannis, 2017. "Sovereign debt and incentives to default with uninsurable risks," Theoretical Economics, Econometric Society, vol. 12(3), September.
    24. Maurin, Vincent, 2022. "Asset scarcity and collateral rehypothecation," Journal of Financial Intermediation, Elsevier, vol. 52(C).
    25. Yoshiaki OGURA, 2015. "Investment Distortion by Collateral Requirements: Evidence from Japanese SMEs," Discussion papers 15050, Research Institute of Economy, Trade and Industry (RIETI).
    26. V. Filipe Martins-Da-Rocha & Toan Phan & Yiannis Vailakis, 2022. "Pecuniary Externalities in Competitive Economies with Limited Pledgeability," Working Papers hal-03909596, HAL.
    27. Krueger, Dirk & Uhlig, Harald, 2023. "Neoclassical growth with long-term one-sided commitment contracts," CFS Working Paper Series 698, Center for Financial Studies (CFS).
    28. Bloise, Gaetano & Citanna, Alessandro, 2015. "Uniqueness of competitive equilibrium with solvency constraints under gross-substitution," Journal of Mathematical Economics, Elsevier, vol. 61(C), pages 287-295.
    29. Wei Ma, 2015. "A Constructive Proof of the Existence of Collateral Equilibrium for a Two-Period Exchange Economy Based on a Smooth Interior-Point Path," Computational Economics, Springer;Society for Computational Economics, vol. 45(1), pages 1-30, January.
    30. Feixue Gong & Gregory Phelan, 2019. "Debt Collateralization, Structured Finance, and the CDS Basis," Department of Economics Working Papers 2019-18, Department of Economics, Williams College.
    31. Dirk Krueger & Harald Uhlig, 2024. "Neoclassical Growth with Limited Commitment," PIER Working Paper Archive 24-021, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
    32. Shibata, Takashi & Nishihara, Michi, 2018. "Investment timing, reversibility, and financing constraints," Journal of Corporate Finance, Elsevier, vol. 48(C), pages 771-796.
    33. Iraola, Miguel A. & Sepúlveda, Fabián & Torres-Martínez, Juan Pablo, 2019. "Financial segmentation and collateralized debt in infinite-horizon economies," Journal of Mathematical Economics, Elsevier, vol. 80(C), pages 56-69.
    34. Ani Guerdjikova & John Quiggin, 2019. "Market Selection with Differential Financial Constraints," Working Papers hal-02005501, HAL.
    35. Miguel Leon-Ledesma & Jaime Orrillo, 2016. "Production and Endogenous Bankruptcy under Collateral Constraints," Studies in Economics 1610, School of Economics, University of Kent.
    36. Christian Loenser & Andreas Schabert, 2020. "Monetary Policy, Financial Constraints, and Redistribution," ECONtribute Discussion Papers Series 011, University of Bonn and University of Cologne, Germany.
    37. Toda, Alexis Akira & Walsh, Kieran James, 2024. "Recent advances on uniqueness of competitive equilibrium," Journal of Mathematical Economics, Elsevier, vol. 113(C).

  21. Piero Gottardi & Rohit Rahi, 2012. "Risk-Sharing and Retrading in Incomplete Markets," Economics Working Papers ECO2012/03, European University Institute.

    Cited by:

    1. Piero Gottardi & Rohit Rahi, 2014. "Value Of Information In Competitive Economies With Incomplete Markets," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 55(1), pages 57-81, February.
    2. Yizhou Xiao, 2020. "Informed Trading and Intertemporal Substitution," Journal of Finance, American Finance Association, vol. 75(2), pages 1135-1156, April.

  22. Gale, Douglas & Gottardi, Piero, 2011. "Bankruptcy, Finance Constraints and the Value of the Firm," Working Papers 11-09, University of Pennsylvania, Wharton School, Weiss Center.

    Cited by:

    1. Gale, Douglas & Piero, Gottardi, 2013. "Capital Structure and Investment Dynamics with Fire Sales," Working Papers 13-21, University of Pennsylvania, Wharton School, Weiss Center.
    2. Douglas Gale & Tanju Yorulmazer, 2020. "Bank capital, fire sales, and the social value of deposits," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 69(4), pages 919-963, June.
    3. Ruwani Fernando, Jayasuriya Mahapatabendige & Li, Leon & Hou, Greg, 2021. "Heterogeneity in capital structure adjustment revisited: Default versus non-default firms and short versus long time horizon," International Review of Economics & Finance, Elsevier, vol. 76(C), pages 185-204.

  23. Piero Gottardi & Atsushi Kajii & Tomoyuki Nakajima, 2011. "Optimal Taxation and Constrained Inefficiency in an Infinite-Horizon Economy with Incomplete Markets," CESifo Working Paper Series 3560, CESifo.

    Cited by:

    1. Piero Gottardi & Atsushi Kajii & Tomoyuki Nakajima, 2014. "Optimal taxation and debt with uninsurable risks to human capital accumulation," CIGS Working Paper Series 14-007E, The Canon Institute for Global Studies.
    2. Galo Nuño & Carlos Thomas, 2020. "Optimal Monetary Policy with Heterogeneous Agents," CESifo Working Paper Series 8670, CESifo.
    3. Omer Acikgoz, 2014. "Transitional Dynamics and Long-Run Optimal Taxation under Incomplete Markets," 2014 Meeting Papers 990, Society for Economic Dynamics.
    4. Acikgoz, Omer, 2015. "Transitional Dynamics and Long-run Optimal Taxation Under Incomplete Markets," MPRA Paper 73380, University Library of Munich, Germany.
    5. Boháček, Radim & Kejak, Michal, 2018. "Optimal government policies in models with heterogeneous agents," Journal of Economic Theory, Elsevier, vol. 176(C), pages 834-858.
    6. Alexis Akira Toda, 2015. "Asset Prices and Efficiency in a Krebs Economy," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 18(4), pages 957-978, October.
    7. Galo Nuño & Carlos Thomas, 2016. "Optimal monetary policy with heterogeneous agents (Updated September 2019)," Working Papers 1624, Banco de España, revised Sep 2019.
    8. Piero Gottardi & Atsushi Kajii & Tomoyuki Nakajima, 2014. "Constrained inefficiency and optimal taxation with uninsurable risks," CIGS Working Paper Series 14-002E, The Canon Institute for Global Studies.
    9. Acikgoz, Omer, 2013. "Transitional Dynamics and Long-run Optimal Taxation Under Incomplete Markets," MPRA Paper 50160, University Library of Munich, Germany.

  24. Alberto Bisin & John Geanakoplos & Piero Gottardi & Enrico Minelli & Herakles Polemarchakis, 2010. "Markets and contracts," Economics Working Papers ECO2010/29, European University Institute.
    • Alberto Bisin & John Geanakoplos & Piero Gottardi & Enrico Minelli & Heracles Polemarchakis, 2009. "Markets and Contracts," Working Papers 0915, University of Brescia, Department of Economics.

    Cited by:

    1. João Correia da Silva, 2014. "Two-period economies with price-contingent deliveries," FEP Working Papers 529, Universidade do Porto, Faculdade de Economia do Porto.
    2. J. D. Geanakoplos & H. M. Polemarchakis, 2006. "Pareto Improving Taxes," Cowles Foundation Discussion Papers 1576, Cowles Foundation for Research in Economics, Yale University.
    3. Carvajal, Andrés & Thereze, João, 2023. "Insurance contracts and financial markets," Mathematical Social Sciences, Elsevier, vol. 121(C), pages 8-19.
    4. Daron Acemoglu & Alp Simsek, 2010. "Moral Hazard and Efficiency in General Equilibrium with Anonymous Trading," Levine's Working Paper Archive 661465000000000232, David K. Levine.
    5. Sergio Turner, 2004. "Pareto Improving Taxation in Incomplete Markets," Econometric Society 2004 Latin American Meetings 310, Econometric Society.
    6. Martin Meier & Enrico Minelli & Herakles Polemarchakis, 2009. "Competitive Markets with Private Information on Both Sides," Working Papers 0917, University of Brescia, Department of Economics.
    7. Monica Billio & Roberto Casarin, 2010. "Bayesian Estimation of Stochastic-Transition Markov-Switching Models for Business Cycle Analysis," Working Papers 1002, University of Brescia, Department of Economics.
    8. Emmanuel Farhi & Mikhail Golosov & Aleh Tsyvinski, 2006. "A Theory of Liquidity and Regulation of Financial Intermediation," Levine's Bibliography 321307000000000326, UCLA Department of Economics.
    9. MINELLI, Enrico & POLEMARCHAKIS, Heracles, 1999. "Nash-Walras equilibria of a large economy," LIDAM Discussion Papers CORE 1999043, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    10. Quintin, Erwan, 2013. "On existence in equilibrium models with endogenous default," Journal of Mathematical Economics, Elsevier, vol. 49(5), pages 418-421.
    11. Kilenthong, Weerachart T. & Townsend, Robert M., 2011. "Information-constrained optima with retrading: An externality and its market-based solution," Journal of Economic Theory, Elsevier, vol. 146(3), pages 1042-1077, May.
    12. Viral Acharya & Hanh Le & Hyun Song Shin, 2016. "Bank capital and dividend externalities," BIS Working Papers 580, Bank for International Settlements.
    13. Kilenthong, Weerachart & Townsend, Robert, 2007. "Market Based, Segregated Exchanges with Default Risk," MPRA Paper 20724, University Library of Munich, Germany, revised 12 Nov 2009.
    14. Bertola, Giuseppe & Koeniger, Winfried, 2014. "Hidden Insurance in a Moral Hazard Economy," CEPR Discussion Papers 9864, C.E.P.R. Discussion Papers.
    15. A. Citanna & P. Siconolfi, 2016. "Designing insurance markets with moral hazard and nonexclusive contracts," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 62(1), pages 325-360, June.
    16. Marc Fleurbaey & Ravi Kanbur & Dennis Snower, 2025. "Efficiency and equity in a socially-embedded economy," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 79(1), pages 1-56, February.
    17. J.H. Dreze & E. Minelli & M. Tirelli, 2006. "Production and Financial Policies under Asymmetric Information," Working Papers ubs0608, University of Brescia, Department of Economics.
    18. Herakles Polemarchakis, 2015. "Markets and Efficiency," The Japanese Economic Review, Japanese Economic Association, vol. 66(2), pages 150-166, June.
    19. CITANNA, Alessandro & POLEMARCHAKIS, Herakles M. & TIRELLI, Mario, 2001. "The taxation of trades in assets," LIDAM Discussion Papers CORE 2001017, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    20. Scotchmer, Suzanne & Shannon, Chris, 2019. "Verifiability and group formation in markets," Journal of Economic Theory, Elsevier, vol. 183(C), pages 417-477.
    21. Burak Unveren, 2017. "Stability and Taxation in Monopolistic Competition," Economics Bulletin, AccessEcon, vol. 37(4), pages 2315-2323.
    22. Alberto Bisin & Piero Gottardi & Danilo Guaitoli, 1998. "A note on the convergence to competitive equilibria in economies with moral hazard," Economics Working Papers 381, Department of Economics and Business, Universitat Pompeu Fabra.
    23. Acharya, Viral & Bisin, Alberto, 2014. "Counterparty risk externality: Centralized versus over-the-counter markets," Journal of Economic Theory, Elsevier, vol. 149(C), pages 153-182.
    24. Luca, Spinesi & Mario, Tirelli, 2018. "R&D financing and growth," MPRA Paper 86860, University Library of Munich, Germany.
    25. Ken Urai & Akihiko Yoshimachi & Kohei Shiozawa, 2013. "General Equilibrium Model for an Asymmetric Information Economy with Endogenous Resale Upperbounds," Discussion Papers in Economics and Business 13-27-Rev., Osaka University, Graduate School of Economics, revised Jul 2015.

  25. Gottardi, Piero & Rahi, Rohit, 2010. "Value of information in competitive economies with incomplete markets," LSE Research Online Documents on Economics 119083, London School of Economics and Political Science, LSE Library.

    Cited by:

    1. Beker, Pablo F. & Cuevas, Conrado, 2018. "The social value of information in economies with mandatory savings," CRETA Online Discussion Paper Series 40, Centre for Research in Economic Theory and its Applications CRETA.
    2. Rahi, Rohit, 2019. "Information acquisition with heterogeneous valuations," LSE Research Online Documents on Economics 118929, London School of Economics and Political Science, LSE Library.
    3. Rahi, Rohit, 2021. "Information acquisition with heterogeneous valuations," LSE Research Online Documents on Economics 107152, London School of Economics and Political Science, LSE Library.
    4. Piero Gottardi & Rohit Rahi, 2012. "Risk-Sharing and Retrading in Incomplete Markets," Economics Working Papers ECO2012/03, European University Institute.
    5. Piotr Denderski & Christian Stoltenberg, 2015. "On Positive Value of Information in Risk Sharing," Tinbergen Institute Discussion Papers 15-074/VI, Tinbergen Institute.
    6. Cristian Ionescu, 2012. "Incomplete Markets and Financial Instability. The Role of Information," Annals of the University of Petrosani, Economics, University of Petrosani, Romania, vol. 12(1), pages 141-150.
    7. Rahi, Rohit & Zigrand, Jean-Pierre, 2018. "Information acquisition, price informativeness and welfare," LSE Research Online Documents on Economics 118935, London School of Economics and Political Science, LSE Library.
    8. Rahi, Rohit & Zigrand, Jean-Pierre, 2018. "Information acquisition, price informativeness, and welfare," LSE Research Online Documents on Economics 89385, London School of Economics and Political Science, LSE Library.

  26. Alberto Bisin & Piero Gottardi & Guido Ruta, 2010. "Equilibrium Corporate Finance," Economics Working Papers ECO2010/01, European University Institute.

    Cited by:

    1. León-Ledesma, Miguel & Orrillo, Jaime, 2021. "Production, bankruptcy, and financial policies under collateral constraints," Mathematical Social Sciences, Elsevier, vol. 112(C), pages 109-119.
    2. Britz, V. & Herings, P.J.J. & Predtetchinski, A., 2010. "Theory of the firm: bargaining and competitive equilibrium," Research Memorandum 057, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
    3. Carvalho, Jaimilton & Orrillo, Jaime & da Silva, Fernanda Rocha Gomes, 2020. "Probability of default in collateralized credit operations for small business," The North American Journal of Economics and Finance, Elsevier, vol. 52(C).
    4. Oren Levintal, 2012. "Equity Capital, Bankruptcy Risk and the Liquidity Trap," Working Papers 2012-07, Bar-Ilan University, Department of Economics.
    5. Miguel Leon-Ledesma & Jaime Orrillo, 2016. "Production and Endogenous Bankruptcy under Collateral Constraints," Studies in Economics 1610, School of Economics, University of Kent.
    6. Acharya, Viral & Bisin, Alberto, 2014. "Counterparty risk externality: Centralized versus over-the-counter markets," Journal of Economic Theory, Elsevier, vol. 149(C), pages 153-182.

  27. Piero Gottardi & Jean-Marc Tallon & Paolo Ghirardato, 2009. "Flexible contracts," Carlo Alberto Notebooks 128, Collegio Carlo Alberto, revised 2015.

    Cited by:

    1. Adrian Tantau & András Puskás-Tompos & Costel Stanciu & Laurentiu Fratila & Catalin Curmei, 2021. "Key Factors Which Contribute to the Participation of Consumers in Demand Response Programs and Enable the Proliferation of Renewable Energy Sources," Energies, MDPI, vol. 14(24), pages 1-22, December.

  28. Antonio Cabrales & Piero Gottardi, 2008. "Markets for Information: Of Inefficient Firewalls and Efficient Monopolies," CESifo Working Paper Series 2336, CESifo.

    Cited by:

    1. Michael Haliassos & Hector F. CALVO PARDO & Chryssi Giannitsarou & Luc Arrondel, 2016. "Informative Social Interactions," 2016 Meeting Papers 636, Society for Economic Dynamics.
    2. Andrea Galeotti & Sanjeev Goyal, 2010. "The Law of the Few," American Economic Review, American Economic Association, vol. 100(4), pages 1468-1492, September.
    3. Cabrales, Antonio & Feri, Francesco & Gottardi, Piero & Meléndez-Jiménez, Miguel A., 2020. "Can there be a market for cheap-talk information? An experimental investigation," Games and Economic Behavior, Elsevier, vol. 121(C), pages 368-381.
    4. Aaron S. Edlin, 1997. "Is the Corner Electronics Store Violationg the Antitrust Laws? (or Why the Good Guys Aren't)," Levine's Working Paper Archive 1009, David K. Levine.
    5. Antonio Gabrales & Francesco Feri & Piero Gottardi & Miguel A. Meléndez-Jiménez & Antonio Cabrales, 2021. "Communication and Social Preferences: An Experimental Analysis," CESifo Working Paper Series 8850, CESifo.
    6. Gottardi, Piero & Meléndez-Jiménez, Miguel A. & Feri, Francesco, 2016. "Can there be a market for cheap-talk information? Some experimental evidence," CEPR Discussion Papers 11206, C.E.P.R. Discussion Papers.
    7. Viola Chen, 2008. "Essays in Applied Theory," Levine's Working Paper Archive 122247000000002243, David K. Levine.

  29. Ronel Elul & Piero Gottardi, 2008. "Bankruptcy: Is it enough to Forgive or must we also Forget?," CESifo Working Paper Series 2313, CESifo.

    Cited by:

    1. Dominik Gutt & Jürgen Neumann & Wael Jabr & Dennis Kundisch, 2020. "The Fate of the App: Economic Implications of Updating under Reputation Resetting," Working Papers Dissertations 76, Paderborn University, Faculty of Business Administration and Economics.
    2. Saengchote, Kanis & Tirapat, Sunti, 2017. "What happens when we forget? The effect of removing adverse information on access to credit," Economics Letters, Elsevier, vol. 151(C), pages 96-99.
    3. Satyajit Chatterjee & Dean Corbae & Kyle Dempsey & José-Víctor Ríos-Rull, 2020. "A Quantitative Theory of the Credit Score," Working Papers 770, Federal Reserve Bank of Minneapolis.
    4. Cyril Monnet & Erwan Quintin, 2018. "Optimal Exclusion," 2018 Meeting Papers 181, Society for Economic Dynamics.
    5. Florian Exler & Michèle Tertilt, 2020. "Consumer Debt and Default: A Macro Perspective," CESifo Working Paper Series 8105, CESifo.
    6. Nicol√°s de Roux, 2021. "Exogenous shocks, credit reports and access to credit: Evidence from colombian coffee producers," Documentos CEDE 19769, Universidad de los Andes, Facultad de Economía, CEDE.
    7. Sergey Kovbasyuk & Giancarlo Spagnolo, 2021. "Memory And Markets," Working Papers w0284, New Economic School (NES).
    8. Marieke Bos & Leonard I. Nakamura, 2012. "Should defaults be forgotten? Evidence from legally mandated removal," Working Papers 12-29, Federal Reserve Bank of Philadelphia.
    9. Carlos Madeira, 2020. "The impact of information laws on consumer credit access: evidence from Chile," Working Papers Central Bank of Chile 873, Central Bank of Chile.
    10. Daniel Monte & Roberto Pinheiro, 2017. "Costly Information Intermediation: Quality vs. Spillovers," Working Papers 17-21R2, Federal Reserve Bank of Cleveland, revised 05 Dec 2024.
    11. Fabienne Schneider & Remo Taudien, 2024. "Credit and Anonymity," Working Papers 24.04, Swiss National Bank, Study Center Gerzensee.
    12. Florian Exler & Igor Livshits & James MacGee & Michèle Tertilt, 2020. "Consumer Credit with Over-optimistic Borrowers," Staff Working Papers 20-57, Bank of Canada.
    13. Christophe Cahn & Mattia Girotti & Augustin Landier, 2017. "Entrepreneurship and Information on Past Failures: A Natural Experiment," Working papers 644, Banque de France.
    14. Tal Gross & Matthew J. Notowidigdo & Jialan Wang, 2016. "The Marginal Propensity to Consume Over the Business Cycle," NBER Working Papers 22518, National Bureau of Economic Research, Inc.
    15. Emmanuel C. Mamatzakis & Antonios Kalyvas, 2017. "Do creditor rights and information sharing affect the performance of foreign banks?," Working Papers 232, Bank of Greece.
    16. Andres Liberman & Christopher A. Neilson & Luis Opazo & Seth Zimmerman, 2019. "Equilibrium Effects of Asymmetric Information on Consumer Credit Markets," Working Papers 2019-7, Princeton University. Economics Department..
    17. Nicol√°s de Roux, 2024. "Choques ex√≥genos, reportes crediticios y acceso al cr√©dito: Evidencia de productores colombianos de caf√©," Documentos CEDE 21279, Universidad de los Andes, Facultad de Economía, CEDE.
    18. Kaya, Ayça & Roy, Santanu, 2022. "Market screening with limited records," Games and Economic Behavior, Elsevier, vol. 132(C), pages 106-132.
    19. Tertilt, Michèle & Exler, Florian, 2020. "Consumer Debt and Default: A Macroeconomic Perspective," CEPR Discussion Papers 14425, C.E.P.R. Discussion Papers.
    20. Krause, Andreas, 2022. "The optimal exclusion length of borrowers after default," Economics Letters, Elsevier, vol. 220(C).
    21. Marieke Bos & Emily Breza & Andres Liberman, 2018. "The Labor Market Effects of Credit Market Information," The Review of Financial Studies, Society for Financial Studies, vol. 31(6), pages 2005-2037.
    22. Margherita Bottero & Giancarlo Spagnolo, 2013. "Limited credit records and market outcomes," Temi di discussione (Economic working papers) 903, Bank of Italy, Economic Research and International Relations Area.
    23. Makoto WATANABE & Yu Awaya & Hiroki Fukai, 2024. "Transparency vs Privacy in Credit Markets," CIGS Working Paper Series 24-022E, The Canon Institute for Global Studies.
    24. Francesco Decarolis & Giancarlo Spagnolo & Riccardo Pacini, 2016. "Past Performance and Procurement Outcomes," NBER Working Papers 22814, National Bureau of Economic Research, Inc.
    25. Fujimoto, Junichi & Lee, Junsang, 2020. "Optimal self-financing microfinance contracts when borrowers have risk aversion and limited commitment," Journal of Mathematical Economics, Elsevier, vol. 91(C), pages 60-79.
    26. Christa N. Gibbs & Benedict Guttman-Kenney & Donghoon Lee & Scott Nelson & Wilbert Van der Klaauw & Jialan Wang, 2024. "Consumer Credit Reporting Data," Staff Reports 1114, Federal Reserve Bank of New York.
    27. Lance Palmer & Vibha Bhargava, 2018. "Forms of Wealth Associated with Attaining Peer Group Net Worth Following Bankruptcy," Social Science Quarterly, Southwestern Social Science Association, vol. 99(1), pages 97-117, March.
    28. Bond, Philip & Newman, Andrew F., 2009. "Prohibitions on punishments in private contracts," Journal of Financial Intermediation, Elsevier, vol. 18(4), pages 526-540, October.
    29. Andres Liberman & Christopher Neilson & Luis Opazo & Seth Zimmerman, 2018. "The Equilibrium Effects of Information Deletion: Evidence from Consumer Credit Markets," NBER Working Papers 25097, National Bureau of Economic Research, Inc.

  30. University of Venice & Nicola Pavoni & Piero Gottardi, 2008. "Ramsey Asset Taxation under Asymmetric Information," 2008 Meeting Papers 309, Society for Economic Dynamics.

    Cited by:

    1. Sebastian Koehne & Nicola Pavoni & Arpad Abraham, 2010. "On the First-Order Approach in Principal-Agent Models with Hidden Borrowing and Lending," 2010 Meeting Papers 947, Society for Economic Dynamics.
    2. Abraham, Arpad & Koehne, Sebastian & Pavoni, Nicola, 2012. "Optimal income taxation with asset accumulation," MPRA Paper 38629, University Library of Munich, Germany.
    3. Bertola, Giuseppe & Koeniger, Winfried, 2013. "Hidden Insurance in a Moral Hazard Economy," Economics Working Paper Series 1337, University of St. Gallen, School of Economics and Political Science.

  31. Piero Gottardi & Felix Kubler, 2006. "Social Security and Risk Sharing," CESifo Working Paper Series 1705, CESifo.

    Cited by:

    1. Roel Beetsma & Ward E. Romp & Siert J. Vos, 2008. "Intergenerational Risk Sharing, Pensions and Endogenous Labor Supply in General Equilibrium," CESifo Working Paper Series 2185, CESifo.
    2. Gottardi, Piero & Kubler, Felix, 2011. "Social security and risk sharing," Journal of Economic Theory, Elsevier, vol. 146(3), pages 1078-1106, May.
    3. Roel Beetsma & Ward Romp & Siert J. Vos, 2011. "Voluntary Participation and Intergenerational Risk Sharing in a Funded Pension System," Tinbergen Institute Discussion Papers 11-056/2/DSF19, Tinbergen Institute.
    4. D'Amato, Marcello & Galasso, Vincenzo, 2010. "Political intergenerational risk sharing," Journal of Public Economics, Elsevier, vol. 94(9-10), pages 628-637, October.
    5. Eisei Ohtaki, 2020. "Optimality in an OLG model with nonsmooth preferences," Working Papers e145, Tokyo Center for Economic Research.
    6. Koichi Miyazaki, 2014. "Efficiency and Lack of Commitment in an Overlapping Generations Model with Endowment Shocks," The Japanese Economic Review, Japanese Economic Association, vol. 65(4), pages 499-520, December.
    7. Broeders, Dirk & Mehlkopf, Roel & van Ool, Annick, 2021. "The economics of sharing macro-longevity risk," Insurance: Mathematics and Economics, Elsevier, vol. 99(C), pages 440-458.
    8. Romp, Ward & Beetsma, Roel, 2020. "Sustainability of pension systems with voluntary participation," Insurance: Mathematics and Economics, Elsevier, vol. 93(C), pages 125-140.
    9. Shiguang Peng & Le Wang, 2025. "Does Participation in Social Security Increase Chinese Farmers’ Willingness of Homestead Withdrawal?," Land, MDPI, vol. 14(3), pages 1-19, February.
    10. Martin Barbie & Marten Hillebrand, 2018. "Bubbly Markov equilibria," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 66(3), pages 627-679, October.
    11. Gollier, Christian, 2008. "Intergenerational risk-sharing and risk-taking of a pension fund," Journal of Public Economics, Elsevier, vol. 92(5-6), pages 1463-1485, June.
    12. Carsten Krabbe Nielsen, 2018. "Rational overconfidence and social security: subjective beliefs, objective welfare," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 65(2), pages 179-229, March.
    13. Carsten Krabbe Nielsen, 2014. "Rational Overconfidence and Social Security," DISCE - Working Papers del Dipartimento di Economia e Finanza def021, Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE).
    14. Roel M. W. J. Beetsma & A. Lans Bovenberg, 2009. "Pensions and Intergenerational Risk‐sharing in General Equilibrium," Economica, London School of Economics and Political Science, vol. 76(302), pages 364-386, April.
    15. Eisei Ohtaki & Hiroyuki Ozaki, 2014. "Optimality in a Stochastic OLG Model with Ambiguity," Working Papers e069, Tokyo Center for Economic Research.
    16. Sara Eugeni, 2017. "Nominal Exchange Rates and Net Foreign Assets' Dynamics: the Stabilization Role of Valuation Effects," Department of Economics Working Papers 2017_09, Durham University, Department of Economics.
    17. R. Beetsma & A. L. Bovenberg, 2006. "Pension systems, intergenerational risk sharing and inflation," European Economy - Economic Papers 2008 - 2015 257, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    18. Alexander Ludwig & Michael Reiter, 2008. "Sharing Demographic Risk – Who is Afraid of the Baby Bust?," MEA discussion paper series 08166, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy.
    19. Marten Hillebrand, 2008. "Pension Systems, Demographic Change, and the Stock Market," Lecture Notes in Economics and Mathematical Systems, Springer, number 978-3-540-77972-8, December.
    20. Ohtaki, Eisei, 2014. "Tractable graphical device for analyzing stationary stochastic OLG economies," Journal of Macroeconomics, Elsevier, vol. 40(C), pages 16-26.
    21. Toshiki Tamai, 2023. "Social security, economic growth, and social welfare in an overlapping generation model with idiosyncratic TFP shock and heterogeneous workers," Journal of Population Economics, Springer;European Society for Population Economics, vol. 36(3), pages 1829-1862, July.
    22. Ohtaki, Eisei, 2013. "Golden rule optimality in stochastic OLG economies," Mathematical Social Sciences, Elsevier, vol. 65(1), pages 60-66.
    23. Beetsma, Roel & Romp, Ward, 2013. "Participation Constraints in Pension Systems," CEPR Discussion Papers 9656, C.E.P.R. Discussion Papers.
    24. Corbae, Dean & Marimon, Ramon, 2011. "Introduction to Incompleteness and Uncertainty in Economics," Journal of Economic Theory, Elsevier, vol. 146(3), pages 775-784, May.
    25. De Menil, Georges & Murtin, Fabrice & Sheshinski, Eytan & Yokossi, Tite, 2016. "A rational, economic model of paygo tax rates," European Economic Review, Elsevier, vol. 89(C), pages 55-72.
    26. Pavel Brendler, 2020. "Why hasn't Social Security changed since 1977?," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 36, pages 134-157, April.
    27. Wolfgang Kuhle, 2014. "The Optimal Structure for Public Debt," Metroeconomica, Wiley Blackwell, vol. 65(2), pages 321-348, May.
    28. Luciano Greco, 2008. "A Note on Social Security and Public Debt," "Marco Fanno" Working Papers 0083, Dipartimento di Scienze Economiche "Marco Fanno".
    29. Daniel Dimitrov, 2022. "Intergenerational Risk Sharing with Market Liquidity Risk," Tinbergen Institute Discussion Papers 22-028/VI, Tinbergen Institute.
    30. Metzger, Christoph, 2016. "The German statutory pension scheme: Balance sheet, cross-sectional internal rates of return and implicit tax rates," FZG Discussion Papers 63, University of Freiburg, Research Center for Generational Contracts (FZG).
    31. Devis Geron, 2009. "Social Security Incidence under Uncertainty Assessing Italian Reforms," CESifo Working Paper Series 2812, CESifo.
    32. Roel Beetsma & Alessandro Bucciol, 2011. "Risk Sharing in Defined-Contribution Funded Pension Systems," CESifo Working Paper Series 3640, CESifo.
    33. Roozbeh Hosseini, 2008. "Adverse Selection in the Annuity Market and the Role for Social Security," 2008 Meeting Papers 264, Society for Economic Dynamics.

  32. Alberto Bisin & Piero Gottardi, 2005. "Efficient Competitive Equilibria with Adverse Selection," CESifo Working Paper Series 1504, CESifo.

    Cited by:

    1. Weerachart T. Kilenthong & Robert M. Townsend, 2014. "A Market Based Solution to Price Externalities: A Generalized Framework," NBER Working Papers 20275, National Bureau of Economic Research, Inc.
    2. João Correia da Silva, 2014. "Two-period economies with price-contingent deliveries," FEP Working Papers 529, Universidade do Porto, Faculdade de Economia do Porto.
    3. Andrea Attar & Thomas Mariotti & François Salanié, 2020. "The Social Costs of Side Trading," Working Papers hal-02538295, HAL.
    4. Bennardo, Alberto & Piccolo, Salvatore, 2005. "Competitive Markets with Endogenous Health Risks," CEPR Discussion Papers 5385, C.E.P.R. Discussion Papers.
    5. Diasakos, Theodoros M. & Koufopoulos, Kostas, 2018. "(Neutrally) Optimal Mechanism under Adverse Selection: The canonical insurance problem," Games and Economic Behavior, Elsevier, vol. 111(C), pages 159-186.
    6. Alberto Bisin & Gian Luca Clementi & Piero Gottardi, 2014. "Capital Structure and Hedging Demand with Incomplete Markets," NBER Working Papers 20345, National Bureau of Economic Research, Inc.
    7. Alex Citanna & Paolo Siconolfi, 2022. "An incentive efficient market for mechanisms in large Akerlof economies," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 73(1), pages 1-54, February.
    8. Diasakos, Theodoros M & Koufopoulos, Kostas, 2013. "Efficient Nash Equilibrium under Adverse Selection," SIRE Discussion Papers 2013-92, Scottish Institute for Research in Economics (SIRE).
    9. Aldo Rustichini & Paolo Siconolfi, 2008. "General equilibrium in economies with adverse selection," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 37(1), pages 1-29, October.
    10. Wanda Mimra & Achim Wambach, 2011. "A Game-Theoretic Foundation for the Wilson Equilibrium in Competitive Insurance Markets with Adverse Selection," CESifo Working Paper Series 3412, CESifo.
    11. Andrea Attar & Thomas Mariotti & François Salanié, 2022. "Competitive nonlinear pricing under adverse selection," Working Papers hal-03629592, HAL.
    12. Carvajal, Andrés & Thereze, João, 2023. "Insurance contracts and financial markets," Mathematical Social Sciences, Elsevier, vol. 121(C), pages 8-19.
    13. Anastasios Dosis, 2016. "Investment, Adverse Selection and Optimal Redistributive Taxation," Working Papers hal-01285163, HAL.
    14. Pierre Picard, 2016. "Equilibrium in insurance markets with adverse selection when insurers pay policy dividends," Working Papers hal-01206073, HAL.
    15. Pablo Kurlat & Florian Scheuer, 2017. "Signaling to Experts," CESifo Working Paper Series 6655, CESifo.
    16. Nick Netzer & Florian Scheuer, 2014. "A Game Theoretic Foundation Of Competitive Equilibria With Adverse Selection," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 55(2), pages 399-422, May.
    17. Weerachart Kilenthong & Robert Townsend, 2014. "Segregated Security Exchanges with Ex Ante Rights to Trade: A Market-Based Solution to Collateral-Constrained Externalities," NBER Working Papers 20086, National Bureau of Economic Research, Inc.
    18. Alberto Bisin & Piero Gottardi & Guido Ruta, 2010. "Equilibrium Corporate Finance," Economics Working Papers ECO2010/01, European University Institute.
    19. Igor Livshits & James MacGee & Michèle Tertilt, 2011. "Costly Contracts and Consumer Credit," NBER Working Papers 17448, National Bureau of Economic Research, Inc.
    20. Livshits, Igor & MacGee, James & Tertilt, Michèle, 2014. "The democratization of credit and the rise in consumer bankruptcies," Working Papers 14-07, University of Mannheim, Department of Economics.
    21. Thorsten V. Koeppl, 2004. "Risk Sharing Through Financial Markets With Endogenous Enforcement Of Trades," Working Paper 1048, Economics Department, Queen's University.
    22. Andrea Attar & Eloisa Campioni & Gwenaël Piaser, 2015. "On Competing Mechanisms under Exclusive Competition," Working Papers 2015-632, Department of Research, Ipag Business School.
    23. Martin Meier & Enrico Minelli & Herakles Polemarchakis, 2009. "Competitive Markets with Private Information on Both Sides," Working Papers 0917, University of Brescia, Department of Economics.
    24. Auster, Sarah & Gottardi, Piero, 2019. "Competing mechanisms in markets for lemons," Theoretical Economics, Econometric Society, vol. 14(3), July.
    25. Ana Fostel & John Geanakoplos, 2008. "Emerging Markets in an Anxious Global Economy," Levine's Working Paper Archive 122247000000002074, David K. Levine.
    26. Alberto Martin, 2008. "Adverse selection, credit and efficiency: The case of the missing market," Economics Working Papers 1085, Department of Economics and Business, Universitat Pompeu Fabra, revised Sep 2009.
    27. Bisin, Alberto; & Gottardi, Piero; & Ruta, Guido, 2014. "Equilibrium corporate finance and intermediation," Economics Working Papers ECO2014/09, European University Institute.
    28. Joao Correia-da-Silva, 2009. "Uncertain delivery in markets for lemons," Levine's Working Paper Archive 814577000000000121, David K. Levine.
    29. Joao Correia-da-Silva & Carlos Herves-Beloso, 2010. "Two-period economies with private state verification," FEP Working Papers 374, Universidade do Porto, Faculdade de Economia do Porto.
    30. George J. Mailath & Georg Noldeke, 2006. "Extreme Adverse Selection, Competitive Pricing, and Market Breakdown," Cowles Foundation Discussion Papers 1573, Cowles Foundation for Research in Economics, Yale University.
    31. Wanda Mimra & Achim Wambach, 2014. "New Developments in the Theory of Adverse Selection in Competitive Insurance," The Geneva Risk and Insurance Review, Palgrave Macmillan;International Association for the Study of Insurance Economics (The Geneva Association), vol. 39(2), pages 136-152, September.
    32. Nick Netzer & Florian Scheuer, 2010. "Competitive screening in insurance markets with endogenous wealth heterogeneity," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 44(2), pages 187-211, August.
    33. Braverman, Mark & Chassang, Sylvain, 2022. "Data-driven incentive alignment in capitation schemes," Journal of Public Economics, Elsevier, vol. 207(C).
    34. Dosis, Anastasios, 2019. "Optimal ex post risk adjustment in markets with adverse selection," Journal of Mathematical Economics, Elsevier, vol. 85(C), pages 52-59.
    35. Wanda Mimra & Achim Wambach, 2019. "Contract withdrawals and equilibrium in competitive markets with adverse selection," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 67(4), pages 875-907, June.
    36. Anastasios Dosis, 2016. "An Efficient Mechanism for Competitive Markets with Adverse Selection," Working Papers hal-01282772, HAL.
    37. Dosis, Anastasios, 2016. "Investment, Adverse Selection and Optimal Redistributive Taxation," ESSEC Working Papers WP1605, ESSEC Research Center, ESSEC Business School.
    38. Anqi Li & Yiqing Xing, 2018. "Intermediated Implementation," Papers 1810.11475, arXiv.org, revised Jan 2020.
    39. Joon Song, 2012. "Futures market: contractual arrangement to restrain moral hazard in teams," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 51(1), pages 163-189, September.
    40. Robert M. Townsend & Jacob Yaron, 2001. "The credit risk-contingency system of an Asian development bank," Economic Perspectives, Federal Reserve Bank of Chicago, vol. 25(Q III), pages 31-48.
    41. De Feo, Giuseppe & Hindriks, Jean, 2009. "Harmful competition in the insurance markets," SIRE Discussion Papers 2009-46, Scottish Institute for Research in Economics (SIRE).
    42. Allen, Franklin & Babus, Ana & Carletti, Elena, 2012. "Asset commonality, debt maturity and systemic risk," Journal of Financial Economics, Elsevier, vol. 104(3), pages 519-534.
    43. Paul S. Willen, 2014. "Evaluating Policies to Prevent another Crisis: An Economist's View," NBER Working Papers 20100, National Bureau of Economic Research, Inc.
    44. Gottardi, Piero & Bisin, Alberto, 2020. "Efficient Policy Interventions in an Epidemic," CEPR Discussion Papers 15386, C.E.P.R. Discussion Papers.
    45. Kilenthong, Weerachart & Townsend, Robert, 2007. "Market Based, Segregated Exchanges with Default Risk," MPRA Paper 20724, University Library of Munich, Germany, revised 12 Nov 2009.
    46. João Correia da Silva & Carlos Hervés-Beloso, 2012. "Existence and generic efficiency of equilibrium in two-period economies with private state-verification," FEP Working Papers 443, Universidade do Porto, Faculdade de Economia do Porto.
    47. Dosis, Anastasios, 2018. "On signalling and screening in markets with asymmetric information," Journal of Mathematical Economics, Elsevier, vol. 75(C), pages 140-149.
    48. Correia-da-Silva, João, 2012. "General equilibrium in markets for lemons," Journal of Mathematical Economics, Elsevier, vol. 48(3), pages 187-195.
    49. Veronica Guerrieri & Robert Shimer & Randall Wright, 2009. "Adverse Selection in Competitive Search Equilibrium," NBER Working Papers 14915, National Bureau of Economic Research, Inc.
    50. Joseph E. Stiglitz & Jungyoll Yun & Andrew Kosenko, 2020. "Bilateral Information Disclosure in Adverse Selection Markets with Nonexclusive Competition," NBER Working Papers 27041, National Bureau of Economic Research, Inc.
    51. Alberto Bisin & Piero Gottardi, 2006. "Efficient Competitive Equilibria with Adverse Selection," Journal of Political Economy, University of Chicago Press, vol. 114(3), pages 485-516, June.
    52. Alberto Bisin & Piero Gottardi, 2003. "Competitive Markets for Non-Exclusive Contracts with Adverse Selection: the Role of Entry Fees," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 6(2), pages 313-338, April.
    53. Alberto Bisin & Piero Gottardi & Adriano A. Rampini, 2004. "Managerial Hedging and Portfolio Monitoring," CESifo Working Paper Series 1322, CESifo.
    54. Acemoglu, Daron & ÅžimÅŸek, Alp, 2010. "Moral Hazard and Efficiency in General Equilibrium with Anonymous Trading," CEPR Discussion Papers 7821, C.E.P.R. Discussion Papers.
    55. Weerachart Kilenthong & Robert Townsend, 2016. "A Market Based Solution for Fire Sales and Other Pecuniary Externalities," PIER Discussion Papers 23, Puey Ungphakorn Institute for Economic Research.
    56. Ueda, Kenichi, 2013. "Banks as coordinators of economic growth and stability: Microfoundation for macroeconomy with externality," Journal of Economic Theory, Elsevier, vol. 148(1), pages 322-352.
    57. de Meza, David & Xie, Gang, 2014. "The deadweight gain of insurance taxation when risky activities are optional," Journal of Public Economics, Elsevier, vol. 115(C), pages 109-116.
    58. Alessandro Citanna & Paolo Siconolfi, 2016. "Incentive Efficient Price Systems In Large Insurance Economies With Adverse Selection," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 57(3), pages 1027-1056, August.
    59. João Correia-da-Silva & Carlos Hervés-Beloso, 2014. "Irrelevance of private information in two-period economies with more goods than states of nature," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 55(2), pages 439-455, February.
    60. Lensman, Todd & Troshkin, Maxim, 2022. "Implications of uncertainty for optimal policies," Journal of Economic Theory, Elsevier, vol. 199(C).
    61. Chatterji, S. & Ghosal, Sayantan, 2013. "Contracting over Prices," SIRE Discussion Papers 2013-88, Scottish Institute for Research in Economics (SIRE).
    62. Li, Anqi & Xing, Yiqing, 2020. "Intermediated implementation," European Economic Review, Elsevier, vol. 123(C).
    63. W D A Bryant, 2009. "General Equilibrium:Theory and Evidence," World Scientific Books, World Scientific Publishing Co. Pte. Ltd., number 6875.
    64. Borys Grochulski, 2013. "Pecuniary Externalities, Segregated Exchanges, and Market Liquidity in a Diamond-Dybvig Economy with Retrade," Economic Quarterly, Federal Reserve Bank of Richmond, issue 4Q, pages 305-340.
    65. Labadie, Pamela, 2009. "Anonymity and individual risk," Journal of Economic Theory, Elsevier, vol. 144(6), pages 2440-2453, November.
    66. Yiqing Xing & Anqi Li, 2014. "Simple Labor Income Tax Systems with Endogenous Employment Contracts," 2014 Meeting Papers 866, Society for Economic Dynamics.
    67. Matt Darst & Ehraz Refayet, 2019. "Mixed Signals: Investment Distortions with Adverse Selection," Finance and Economics Discussion Series 2019-044, Board of Governors of the Federal Reserve System (U.S.).
    68. Pamela Labadie, 2008. "Retrading in Competitive Equilibria with Adverse Selection," 2008 Meeting Papers 838, Society for Economic Dynamics.
    69. Dosis, Anastasios, 2016. "An Efficient Mechanism for Competitive Markets with Adverse Selection," ESSEC Working Papers WP1604, ESSEC Research Center, ESSEC Business School.
    70. Scotchmer, Suzanne & Shannon, Chris, 2019. "Verifiability and group formation in markets," Journal of Economic Theory, Elsevier, vol. 183(C), pages 417-477.
    71. Renaud Bourlès & Dominique Henriet, 2012. "Risk-sharing Contracts with Asymmetric Information," The Geneva Risk and Insurance Review, Palgrave Macmillan;International Association for the Study of Insurance Economics (The Geneva Association), vol. 37(1), pages 27-56, March.
    72. Ana Fostel & John Geanakoplos, 2013. "Reviewing the Leverage Cycle," Cowles Foundation Discussion Papers 1918, Cowles Foundation for Research in Economics, Yale University.
    73. Gottardi, Piero, 2025. "Douglas Gale’s contribution to bargaining and markets," Journal of Financial Intermediation, Elsevier, vol. 62(C).
    74. Yun Gao & Kenichi Ueda, 2025. "Loan Screening under Symmetrically Imperfect Information," CARF F-Series CARF-F-614, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
    75. Paul Oslington, 2012. "General Equilibrium: Theory and Evidence," The Economic Record, The Economic Society of Australia, vol. 88(282), pages 446-448, September.
    76. Dosis, Anastasios, 2022. "Price caps and efficiency in markets with adverse selection," Journal of Mathematical Economics, Elsevier, vol. 99(C).
    77. Etro, Federico, 2017. "Research in economics and game theory. A 70th anniversary," Research in Economics, Elsevier, vol. 71(1), pages 1-7.

  33. Alberto Bisin & Piero Gottardi & Adriano A. Rampini, 2004. "Managerial Hedging and Portfolio Monitoring," CESifo Working Paper Series 1322, CESifo.

    Cited by:

    1. Green, Daniel & Liu, Ernest, 2021. "A dynamic theory of multiple borrowing," Journal of Financial Economics, Elsevier, vol. 139(2), pages 389-404.
    2. Bianchi, Milo & Dana, Rose-Anne & Jouini, Elyès, 2021. "Equilibrium CEO Contract with Belief Heterogeneity," TSE Working Papers 21-1253, Toulouse School of Economics (TSE).
    3. Alberto Bisin & Gian Luca Clementi & Piero Gottardi, 2014. "Capital Structure and Hedging Demand with Incomplete Markets," NBER Working Papers 20345, National Bureau of Economic Research, Inc.
    4. Avdjiev, Stefan & Zeng, Zheng, 2009. "Impact of heterogeneous managerial productivity on executive hedge markets in an asymmetric information environment," Finance Research Letters, Elsevier, vol. 6(4), pages 187-201, December.
    5. Luigi Iovino, 2014. "Sophisticated Intermediation and Aggregate Volatility," 2014 Meeting Papers 1044, Society for Economic Dynamics.
    6. Papa, Gianluca & Speciale, Biagio, 2011. "Financial leverage and managerial compensation: Evidence from the UK," Research in Economics, Elsevier, vol. 65(1), pages 36-46, March.
    7. Alberto Bisin & Piero Gottardi & Guido Ruta, 2010. "Equilibrium Corporate Finance," Economics Working Papers ECO2010/01, European University Institute.
    8. Bisin, Alberto; & Gottardi, Piero; & Ruta, Guido, 2014. "Equilibrium corporate finance and intermediation," Economics Working Papers ECO2014/09, European University Institute.
    9. Reich, S., 2007. "Robust Incentives," Cambridge Working Papers in Economics 0729, Faculty of Economics, University of Cambridge.
    10. Canidio, Andrea, 2018. "Financial incentives for open source development: the case of Blockchain," MPRA Paper 85352, University Library of Munich, Germany.
    11. Yu Huang & Nengjiu Ju & Hao Xing, 2023. "Performance Evaluation, Managerial Hedging, and Contract Termination," Management Science, INFORMS, vol. 69(8), pages 4953-4971, August.
    12. Viral V. Acharya & Alberto Bisin, 2009. "Managerial hedging, equity ownership, and firm value," RAND Journal of Economics, RAND Corporation, vol. 40(1), pages 47-77, March.
    13. Choe, Chongwoo & Lien, Donald & Yu, Chia-Feng (Jeffrey), 2015. "Optimal managerial hedging and contracting with self-esteem concerns," International Review of Economics & Finance, Elsevier, vol. 37(C), pages 354-367.
    14. Marie‐Hélène Gagnon & Aurélien Philippot, 2020. "Are Incentive Contract Settlements Nonevents?," International Review of Finance, International Review of Finance Ltd., vol. 20(4), pages 983-992, December.
    15. Boğaçhan Çelen & Saltuk Özertürk, 2012. "Acquisition Of Information To Diversify Contractual Risk," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 53(1), pages 133-156, February.
    16. Gao, Huasheng, 2010. "Optimal compensation contracts when managers can hedge," Journal of Financial Economics, Elsevier, vol. 97(2), pages 218-238, August.
    17. Jongwon Park & Sunyoung Kim & Albert Tsang, 2023. "CEO Personal Hedging and Corporate Social Responsibility," Journal of Business Ethics, Springer, vol. 182(1), pages 199-221, January.
    18. Magill, Michael & Quinzii, Martine, 2008. "Normative properties of stock market equilibrium with moral hazard," Journal of Mathematical Economics, Elsevier, vol. 44(7-8), pages 785-806, July.
    19. Bisin, Alberto & Guaitoli, Danilo, 2012. "Information extraction and norms of mutual protection," Journal of Economic Behavior & Organization, Elsevier, vol. 84(1), pages 154-162.

  34. Piero Gottardi & Felix Kubler, 2004. "Ex Ante Optimality and Social Security," 2004 Meeting Papers 626, Society for Economic Dynamics.

    Cited by:

    1. Francisco Gomes & Alexander Michaelides & Valery Polkovnichenko, 2009. "Quantifying the Distortionary Fiscal Cost of ‘The Bailout’," Working Papers 2009-6, Central Bank of Cyprus.
    2. Gomes, Francisco & Michaelides, Alexander, 2005. "Asset pricing with limited risk sharing and heterogeneous agents," LSE Research Online Documents on Economics 24649, London School of Economics and Political Science, LSE Library.
    3. Valery Polkovnichenko & Alexander Michaelides & Francisco Gomes, 2007. "Fiscal Policy, Asset Pricing and Economic Activity in a Savers-Spenders Economy," 2007 Meeting Papers 191, Society for Economic Dynamics.

  35. Piero Gottardi & Roberto Serrano, 2002. "Market Power and Information Revelation in Dynamic Trading," Economics Working Papers 0027, Institute for Advanced Study, School of Social Science.

    Cited by:

    1. BOCHET, Olivier, 2005. "Switching from complete to incomplete information," LIDAM Discussion Papers CORE 2005063, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    2. Majumdar, Dipjyoti & Shneyerov, Art & Xie, Huan, 2010. "How Optimism Leads to Price Discovery and Efficiency in a Dynamic Matching Market," Microeconomics.ca working papers artyom_shneyerov-2010-32, Vancouver School of Economics, revised 26 Oct 2010.
    3. Peck, James, 2014. "A battle of informed traders and the market game foundations for rational expectations equilibrium," Games and Economic Behavior, Elsevier, vol. 88(C), pages 153-173.
    4. Ciara Whelan & Patrick P. Walsh & Franco Mariuzzo, 2004. "EU merger control in differentiated product industries," Open Access publications 10197/138, School of Economics, University College Dublin.
    5. Perea ý Monsuwé, A., 2005. "A model of minimal probabilistic belief revision," Research Memorandum 035, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
    6. Yusuke Kamishiro & Roberto Serrano, 2009. "Equilibrium Blocking in Large Quasilinear Economies," Working Papers 2009-12, Brown University, Department of Economics.
    7. Sergei Severinov & Michael Peters, 2004. "Internet Trading Mechanisms And Rational Expectations," Econometric Society 2004 North American Winter Meetings 551, Econometric Society.
    8. José Ramón Martínez-Resano, 2005. "Size and heterogeneity matter. A microstructure-based analysis of regulation of secondary markets for governments bonds," Occasional Papers 0501, Banco de España.
    9. Dipjyoti Majumdar & Artyom Shneyerov & Huan Xie, 2016. "An optimistic search equilibrium," Review of Economic Design, Springer;Society for Economic Design, vol. 20(2), pages 89-114, June.
    10. Isaac Tanguy, 2010. "Information Revelation in Markets with Pairwise Meetings: Complete Revelation in Dynamic Analysis," The B.E. Journal of Theoretical Economics, De Gruyter, vol. 10(1), pages 1-17, January.
    11. Michael Peters & Sergei Severinov, 2008. "An ascending double auction," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 37(2), pages 281-306, November.
    12. Peters, Michael & Severinov, Sergei, 2005. "Internet Auctions with Many Traders," Microeconomics.ca working papers peters-05-03-30-03-06-03, Vancouver School of Economics, revised 23 Jan 2006.
    13. J.Ramon Martinez-Resano, 2005. "Size And Heterogeneity Matter. A Microstructure-Based Analysis Of Regulation Of Secondary Markets For Government Bonds," Finance 0508007, University Library of Munich, Germany.
    14. Palazzo, Francesco & Zhang, Min, 2017. "Information disclosure and asymmetric speed of learning in booms and busts," Economics Letters, Elsevier, vol. 158(C), pages 37-40.
    15. Dmitry Levando, 2012. "A Survey Of Strategic Market Games," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 57(194), pages 63-106, July - Se.
    16. Zhou, Deqing, 2016. "Public disclosure, information leakage, and strategic trading," Economics Letters, Elsevier, vol. 147(C), pages 46-50.
    17. Isaac, Tanguy, 2011. "A new equilibrium in the one-sided asymmetric information market with pairwise meetings," Mathematical Social Sciences, Elsevier, vol. 61(3), pages 152-156, May.

  36. Gottardi, Piero & Rahi, Rohit, 2001. "Efficiency Properties of Rational Expectations Equilibria with Asymmetric Information," CEPR Discussion Papers 2922, C.E.P.R. Discussion Papers.

    Cited by:

    1. Gottardi, Piero & Rahi, Rohit, 2007. "Value of information in competitive economies with incomplete markets," LSE Research Online Documents on Economics 4749, London School of Economics and Political Science, LSE Library.
    2. Juan Carlos Hatchondo, 2005. "The value of information with heterogeneous agents and partially revealing prices," Working Paper 05-06, Federal Reserve Bank of Richmond.

  37. Alberto Bisin & Piero Gottardi, 2000. "Decentralizing Incentive Efficient Allocations of Economies with Adverse Selection," Econometric Society World Congress 2000 Contributed Papers 0855, Econometric Society.

    Cited by:

    1. Belen Jerez, 2005. "Incentive Compatibility and Pricing under Moral Hazard," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 8(1), pages 28-47, January.
    2. Jerez, Belen, 2003. "A dual characterization of incentive efficiency," Journal of Economic Theory, Elsevier, vol. 112(1), pages 1-34, September.

  38. Subir Chattopadhyay & Piero Gottardi, 1999. "Stochastic OLG Models, Market Structure, and Optimality," Working Papers 99-12, Brown University, Department of Economics.

    Cited by:

    1. Gottardi, Piero & Kubler, Felix, 2011. "Social security and risk sharing," Journal of Economic Theory, Elsevier, vol. 146(3), pages 1078-1106, May.
    2. Subir Chattopadhyay, 2000. "The Unit Root Property And Optimality: A Simple Proof," Working Papers. Serie AD 2000-31, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
    3. Henriksen, Espen & Spear, Stephen, 2012. "Endogenous market incompleteness without market frictions: Dynamic suboptimality of competitive equilibrium in multiperiod overlapping generations economies," Journal of Economic Theory, Elsevier, vol. 147(2), pages 426-449.
    4. Gaetano Bloise, 2007. "Efficiency and prices in economies of overlapping generations," Departmental Working Papers of Economics - University 'Roma Tre' 0072, Department of Economics - University Roma Tre.
    5. J. Ignacio Conde-Ruiz & Eduardo L. Giménez & Mikel Pérez-Nievas, "undated". "Millian Efficiency with Endogenous Fertility," Working Papers 2004-13, FEDEA.
    6. Barbie, Martin & Hagedorn, Marcus & Kaul, Ashok, 2007. "On the interaction between risk sharing and capital accumulation in a stochastic OLG model with production," Journal of Economic Theory, Elsevier, vol. 137(1), pages 568-579, November.
    7. Narayana R. Kocherlakota, 2023. "Infinite Debt Rollover in Stochastic Economies," Econometrica, Econometric Society, vol. 91(5), pages 1629-1658, September.
    8. Demange, Gabrielle, 2005. "On Sustainable Pay-As-You-Go Systems," CEPR Discussion Papers 4966, C.E.P.R. Discussion Papers.
    9. Eisei Ohtaki, 2020. "Optimality in an OLG model with nonsmooth preferences," Working Papers e145, Tokyo Center for Economic Research.
    10. Koichi Miyazaki, 2014. "Efficiency and Lack of Commitment in an Overlapping Generations Model with Endowment Shocks," The Japanese Economic Review, Japanese Economic Association, vol. 65(4), pages 499-520, December.
    11. Chattopadhyay, Subir, 2006. "Optimality in stochastic OLG models: Theory for tests," Journal of Economic Theory, Elsevier, vol. 131(1), pages 282-294, November.
    12. Hillebrand, Marten, 2012. "On the optimal size of Social Security in the presence of a stock market," Journal of Mathematical Economics, Elsevier, vol. 48(1), pages 26-38.
    13. Hillebrand, Marten, 2011. "On the role of labor supply for the optimal size of Social Security," Journal of Economic Dynamics and Control, Elsevier, vol. 35(7), pages 1091-1105, July.
    14. Molina-Abraldes, Antonio & Pintos-Clapés, Juan, 2008. "Pareto optimality in continuous-time OLG economies," Journal of Mathematical Economics, Elsevier, vol. 44(9-10), pages 933-950, September.
    15. Bloise, Gaetano & Reichlin, Pietro, 2011. "Asset prices, debt constraints and inefficiency," Journal of Economic Theory, Elsevier, vol. 146(4), pages 1520-1546, July.
    16. Martin Barbie & Marten Hillebrand, 2018. "Bubbly Markov equilibria," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 66(3), pages 627-679, October.
    17. Eisei Ohtaki & Hiroyuki Ozaki, 2013. "Monetary Equilibria and Knightian Uncertainty," Keio/Kyoto Joint Global COE Discussion Paper Series 2012-032, Keio/Kyoto Joint Global COE Program.
    18. Bloise, Gaetano & Calciano, Filippo L., 2008. "A characterization of inefficiency in stochastic overlapping generations economies," Journal of Economic Theory, Elsevier, vol. 143(1), pages 442-468, November.
    19. Eisei Ohtaki & Hiroyuki Ozaki, 2014. "Optimality in a Stochastic OLG Model with Ambiguity," Working Papers e069, Tokyo Center for Economic Research.
    20. Shurojit Chatterji & Subir Chattopadhyay, 2005. "Functional Sunspot Equilibria," Working Papers. Serie AD 2005-39, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
    21. C. Gizem Korpeoglu & Stephen E. Spear, 2018. "A theory of managerial compensation and taxation with endogenous risk," Economic Theory Bulletin, Springer;Society for the Advancement of Economic Theory (SAET), vol. 6(1), pages 81-100, April.
    22. Gaetano Bloise & Filippo L. Calciano, 2007. "A Note On The Characterization Of Inefficiency In Stochastic Overlapping Generations Economies," Departmental Working Papers of Economics - University 'Roma Tre' 0083, Department of Economics - University Roma Tre.
    23. Chattopadhyay, Subir, 2008. "The Cass criterion, the net dividend criterion, and optimality," Journal of Economic Theory, Elsevier, vol. 139(1), pages 335-352, March.
    24. Chattopadhyay, Subir, 2001. "The unit root property and optimality: a simple proof," Journal of Mathematical Economics, Elsevier, vol. 36(2), pages 151-159, November.
    25. Marten Hillebrand, 2008. "Pension Systems, Demographic Change, and the Stock Market," Lecture Notes in Economics and Mathematical Systems, Springer, number 978-3-540-77972-8, December.
    26. Ohtaki, Eisei, 2014. "Tractable graphical device for analyzing stationary stochastic OLG economies," Journal of Macroeconomics, Elsevier, vol. 40(C), pages 16-26.
    27. Philippe Weil, 2008. "Overlapping Generations: The First Jubilee," Journal of Economic Perspectives, American Economic Association, vol. 22(4), pages 115-134, Fall.
    28. Ohtaki, Eisei, 2013. "Golden rule optimality in stochastic OLG economies," Mathematical Social Sciences, Elsevier, vol. 65(1), pages 60-66.
    29. Dirk Krueger & Felix Kubler, 2002. "Intergenerational Risk-Sharing via Social Security when Financial Markets Are Incomplete," American Economic Review, American Economic Association, vol. 92(2), pages 407-410, May.
    30. Gaetano Bloise & Pietro Reichlin, 2023. "Low safe interest rates: A case for dynamic inefficiency?," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 51, pages 633-656, December.
    31. Martin Barbie & Ashok Kaul, 2009. "The Zilcha criteria for dynamic inefficiency reconsidered," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 40(2), pages 339-348, August.
    32. Barbie, Martin & Hagedorn, Marcus & Kaul, Ashok, 2001. "Government Debt as Insurance against Macroeconomic Risk," IZA Discussion Papers 412, IZA Network @ LISER.
    33. Barbie, Martin & Hagedorn, Marcus & Kaul, Ashok, 2000. "Dynamic Efficiency and Pareto Optimality in a Stochastic OLG Model with Production and Social Security," IZA Discussion Papers 209, IZA Network @ LISER.
    34. Subir Chattopadhyay, 2001. "Long-Lived Assets, Incomplete Markets, And Optimality," Working Papers. Serie AD 2001-10, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
    35. Chattopadhyay, Subir & Jimnez-Martnez, Antonio, 2009. "Dividend paying assets, the unit root property, and suboptimality," Journal of Mathematical Economics, Elsevier, vol. 45(3-4), pages 223-232, March.
    36. Molina-Abraldes, Antonio & Pintos-Clapes, Juan, 2003. "A complete characterization of Pareto optimality for general OLG economies," Journal of Economic Theory, Elsevier, vol. 113(2), pages 235-252, December.
    37. Kevin Reffett & Olivier Morand, 2008. "Isotone recursive methods for Stationary Markov Equilibra in OLG models with stochastic nonclassical production," 2008 Meeting Papers 470, Society for Economic Dynamics.
    38. Becker, Robert & Mitra, Tapan, 2011. "Efficient Ramsey Equilibria," Working Papers 11-02, Cornell University, Center for Analytic Economics.
    39. Gabrielle Demange, 2009. "On Sustainable Pay‐as‐You‐Go Contribution Rules," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 11(4), pages 493-527, August.
    40. Espen Henriksen & Steve Spear, 2006. "Dynamic Suboptimality of Competitive Equilibrium in Multiperiod Overlapping Generations Economies," Computing in Economics and Finance 2006 223, Society for Computational Economics.
    41. Guido Cazzavillan & Patrick Pintus, 2006. "Endogenous Business Cycles and Dynamic Inefficiency," Working Papers 2006_37, Department of Economics, University of Venice "Ca' Foscari".
    42. P. Herings & Kirsten Rohde, 2008. "On the completeness of complete markets," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 37(2), pages 171-201, November.
    43. Chattopadhyay, Subir, 2018. "The unit root property and optimality with a continuum of states—Pure exchange," Journal of Mathematical Economics, Elsevier, vol. 78(C), pages 105-118.

  39. Alberto Bisin & Piero Gottardi, 1998. "Competitive Equilibria with Asymmetric Information," Levine's Working Paper Archive 2062, David K. Levine.

    Cited by:

    1. DRÈZE, Jacques & MINELLI, Enrico & TIRELLI, Mario, 2004. "Production and financial policies under asymmetric information," LIDAM Discussion Papers CORE 2004027, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    2. João Correia da Silva, 2014. "Two-period economies with price-contingent deliveries," FEP Working Papers 529, Universidade do Porto, Faculdade de Economia do Porto.
    3. Andrea Attar & Thomas Mariotti & François Salanié, 2020. "The Social Costs of Side Trading," Working Papers hal-02538295, HAL.
    4. Andrea Attar & Thomas Mariotti & François Salanié, 2010. "Non-Exclusive Competition in the Market for Lemons," CEIS Research Paper 159, Tor Vergata University, CEIS, revised 28 May 2010.
    5. Alberto Bisin & Piero Gottardi, 2000. "Decentralizing Incentive Efficient Allocations of Economies with Adverse Selection," Econometric Society World Congress 2000 Contributed Papers 0855, Econometric Society.
    6. Alberto Bisin & Gian Luca Clementi & Piero Gottardi, 2014. "Capital Structure and Hedging Demand with Incomplete Markets," NBER Working Papers 20345, National Bureau of Economic Research, Inc.
    7. Ken Urai & Akihiko Yoshimachi & Kohei Shiozawa, 2013. "General Equilibrium Model for an Asymmetric Information Economy without Delivery Upper Bounds," Discussion Papers in Economics and Business 13-27-Rev.2, Osaka University, Graduate School of Economics, revised Mar 2017.
    8. Mikhail Golosov & Aleh Tsyvinski, 2005. "Optimal Taxation with Endogenous Insurance Markets," NBER Working Papers 11185, National Bureau of Economic Research, Inc.
    9. Ken Urai & Akihiko Yoshimachi & Kohei Shiozawa, 2014. "General Equilibrium Model with Information Asymmetry and Commodity-Information Technologies," Discussion Papers in Economics and Business 14-02, Osaka University, Graduate School of Economics.
    10. Martin Hellwig, 2004. "Nonlinear Incentive Provision in Walrasian Markets: A Cournot Convergence Approach," Discussion Paper Series of the Max Planck Institute for Behavioral Economics 2004_8, Max Planck Institute for Behavioral Economics.
    11. Daron Acemoglu & Alp Simsek, 2010. "Moral Hazard and Efficiency in General Equilibrium with Anonymous Trading," Levine's Working Paper Archive 661465000000000232, David K. Levine.
    12. Adriano Rampini & Alberto Bisin, 2005. "Markets as Beneficial Constraints on the Government," 2005 Meeting Papers 325, Society for Economic Dynamics.
    13. Belen Jerez, 2005. "Incentive Compatibility and Pricing under Moral Hazard," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 8(1), pages 28-47, January.
    14. Andrea, ATTAR & Eloisa, CAMPIONI & Gwenaël, PIASER, 2005. "Multiple Lending and Constrained Efficiency in the Credit Market," Discussion Papers (ECON - Département des Sciences Economiques) 2005024, Université catholique de Louvain, Département des Sciences Economiques.
    15. Alberto Bisin & Piero Gottardi & Guido Ruta, 2010. "Equilibrium Corporate Finance," Economics Working Papers ECO2010/01, European University Institute.
    16. Giuseppe Bertola & Winfried Koeniger, 2015. "Hidden insurance in a moral-hazard economy," RAND Journal of Economics, RAND Corporation, vol. 46(4), pages 777-790, October.
    17. Steven J. Davis & Felix Kubler & Paul S. Willen, 2005. "Borrowing costs and the demand for equity over the life cycle," Working Papers 05-7, Federal Reserve Bank of Boston.
    18. Martins-da-Rocha, V. Filipe & Vailakis, Yiannis, 2012. "Endogenous debt constraints in collateralized economies with default penalties," Journal of Mathematical Economics, Elsevier, vol. 48(1), pages 1-13.
    19. Victoria Vanasco & Vladimir Asriyan, 2020. "Security Design in Non-Exclusive Markets with Asymmetric Information," Working Papers 1164, Barcelona School of Economics.
    20. Mariotti, Thomas & Attar, Andrea & Salanié, François, 2016. "Multiple Contracting in Insurance Markets," CEPR Discussion Papers 11631, C.E.P.R. Discussion Papers.
    21. Christina Bannier & Eberhard Feess & Natalie Packham & Markus Walzl, 2016. "Incentive schemes, private information and the double-edged role of competition for agents," Working Papers 2016-20, Faculty of Economics and Statistics, Universität Innsbruck.
    22. Bisin, Alberto; & Gottardi, Piero; & Ruta, Guido, 2014. "Equilibrium corporate finance and intermediation," Economics Working Papers ECO2014/09, European University Institute.
    23. Joao Correia-da-Silva, 2009. "Uncertain delivery in markets for lemons," Levine's Working Paper Archive 814577000000000121, David K. Levine.
    24. Joseph E. Stiglitz & Jungyoll Yun & Andrew Kosenko, 2017. "Equilibrium in a Competitive Insurance Market Under Adverse Selection with Endogenous Information," NBER Working Papers 23556, National Bureau of Economic Research, Inc.
    25. Joao Correia-da-Silva & Carlos Herves-Beloso, 2010. "Two-period economies with private state verification," FEP Working Papers 374, Universidade do Porto, Faculdade de Economia do Porto.
    26. Hurst, Erik & Willen, Paul, 2007. "Social security and unsecured debt," Journal of Public Economics, Elsevier, vol. 91(7-8), pages 1273-1297, August.
    27. Braverman, Mark & Chassang, Sylvain, 2022. "Data-driven incentive alignment in capitation schemes," Journal of Public Economics, Elsevier, vol. 207(C).
    28. Andrea Attar & Thomas Mariotti & François Salanié, 2021. "Entry-proofness and discriminatory pricing under adverse selection," Working Papers hal-03485384, HAL.
    29. Bertola, Giuseppe & Koeniger, Winfried, 2010. "Public and Private Insurance with Costly Transactions," IZA Discussion Papers 5201, IZA Network @ LISER.
    30. Gerber, Anke, 2008. "Direct versus intermediated finance: An old question and a new answer," European Economic Review, Elsevier, vol. 52(1), pages 28-54, January.
    31. Alberto Bisin & Danilo Guaitoli, 1998. "Moral hazard and non-exclusive contracts," Economics Working Papers 345, Department of Economics and Business, Universitat Pompeu Fabra.
    32. Joon Song, 2012. "Futures market: contractual arrangement to restrain moral hazard in teams," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 51(1), pages 163-189, September.
    33. Jerez, Belen, 2003. "A dual characterization of incentive efficiency," Journal of Economic Theory, Elsevier, vol. 112(1), pages 1-34, September.
    34. Pradeep Dubey & John Geanakoplos & Martin Shubik, 2001. "Default and Punishment in General Equilibrium," Cowles Foundation Discussion Papers 1304R5, Cowles Foundation for Research in Economics, Yale University, revised Mar 2004.
    35. Mark Braverman & Sylvain Chassang, 2020. "Data-Driven Incentive Alignment in Capitation Schemes," Working Papers 2020-60, Princeton University. Economics Department..
    36. Long, Wen & Ma, Ruiqi & Guo, Man, 2025. "Information content and sentiment: the role of environmental disclosure in stock price crash risk," International Review of Financial Analysis, Elsevier, vol. 104(PA).
    37. Nguyen, N.P. & Shortle, J.S. & Reed, P.M. & Nguyen, T.T., 2013. "Water quality trading with asymmetric information, uncertainty and transaction costs: A stochastic agent-based simulation," Resource and Energy Economics, Elsevier, vol. 35(1), pages 60-90.
    38. João Correia da Silva & Carlos Hervés-Beloso, 2012. "Existence and generic efficiency of equilibrium in two-period economies with private state-verification," FEP Working Papers 443, Universidade do Porto, Faculdade de Economia do Porto.
    39. A. Citanna & P. Siconolfi, 2016. "Designing insurance markets with moral hazard and nonexclusive contracts," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 62(1), pages 325-360, June.
    40. Correia-da-Silva, João, 2012. "General equilibrium in markets for lemons," Journal of Mathematical Economics, Elsevier, vol. 48(3), pages 187-195.
    41. Orazio Attanasio & Nicola Pavoni, 2007. "Risk Sharing in Private Information Models with Asset Accumulation: Explaining the Excess Smoothness of Consumption," NBER Working Papers 12994, National Bureau of Economic Research, Inc.
    42. Alberto Bisin & Piero Gottardi, 2003. "Competitive Markets for Non-Exclusive Contracts with Adverse Selection: the Role of Entry Fees," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 6(2), pages 313-338, April.
    43. Alberto Bisin & Piero Gottardi, 2005. "Efficient Competitive Equilibria with Adverse Selection," CESifo Working Paper Series 1504, CESifo.
    44. Viral V. Acharya & Alberto Bisin, 2009. "Managerial hedging, equity ownership, and firm value," RAND Journal of Economics, RAND Corporation, vol. 40(1), pages 47-77, March.
    45. João Correia-da-Silva & Carlos Hervés-Beloso, 2014. "Irrelevance of private information in two-period economies with more goods than states of nature," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 55(2), pages 439-455, February.
    46. Timothy J. Kehoe & David K. Levine & Edward Prescott, 2000. "Lotteries, Sunspots and Incentive Constraints," Levine's Working Paper Archive 1974, David K. Levine.
    47. Jason Donaldson & Denis Gromb & Giorgia Piacentino, 2019. "Conflicting Priorities: A Theory of Covenants and Collateral," 2019 Meeting Papers 157, Society for Economic Dynamics.
    48. Joao Correia-da-Silva & Carlos Herves-Beloso, 2008. "General equilibrium with private state verification," Levine's Working Paper Archive 814577000000000024, David K. Levine.
    49. Nuno Gouveia, 2004. "General equilibrium with asymmetric information and default penalties," Cahiers de la Maison des Sciences Economiques b05051, Université Panthéon-Sorbonne (Paris 1), revised Jan 2005.
    50. Xavier Vives, 2000. "Allocative and Productive Efficiency in REE with Asymetric Information," UFAE and IAE Working Papers 473.00, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
    51. Matt Darst & Ehraz Refayet, 2019. "Mixed Signals: Investment Distortions with Adverse Selection," Finance and Economics Discussion Series 2019-044, Board of Governors of the Federal Reserve System (U.S.).
    52. Bel? Jerez, 2000. "General Equilibrium with Asymmetric Information: a Dual Approach," UFAE and IAE Working Papers 510.02, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
    53. Nuno Gouveia, 2005. "General equilibrium with asymmetric information and default penalties," Post-Print halshs-00195526, HAL.
    54. Scotchmer, Suzanne & Shannon, Chris, 2019. "Verifiability and group formation in markets," Journal of Economic Theory, Elsevier, vol. 183(C), pages 417-477.
    55. Mark Braverman & Sylvain Chassang, 2016. "Data-Driven Incentive Alignment in Capitation Schemes," Working Papers 073_2015, Princeton University, Department of Economics, Econometric Research Program..
    56. Jin-Wook Chang & Matt Darst, 2022. "Moldy Lemons and Market Shutdowns," Finance and Economics Discussion Series 2022-013, Board of Governors of the Federal Reserve System (U.S.).
    57. Christina E. Bannier & Eberhard Feess & Natalie Packham & Markus Walzl, 2020. "Differentiation and Risk-Aversion in Imperfectly Competitive Labor Markets," Working Papers 2020-15, Faculty of Economics and Statistics, Universität Innsbruck.
    58. Alberto Bisin & Piero Gottardi & Danilo Guaitoli, 1998. "A note on the convergence to competitive equilibria in economies with moral hazard," Economics Working Papers 381, Department of Economics and Business, Universitat Pompeu Fabra.
    59. Roozbeh Hosseini, 2008. "Adverse Selection in the Annuity Market and the Role for Social Security," 2008 Meeting Papers 264, Society for Economic Dynamics.
    60. Ken Urai & Akihiko Yoshimachi & Kohei Shiozawa, 2013. "General Equilibrium Model for an Asymmetric Information Economy," Discussion Papers in Economics and Business 13-27, Osaka University, Graduate School of Economics.
    61. Calcagno, Riccardo & Wagner, Wolf, 2006. "Dispersed initial ownership and the efficiency of the stock market under moral hazard," Journal of Mathematical Economics, Elsevier, vol. 42(1), pages 36-45, February.
    62. Luca, Spinesi & Mario, Tirelli, 2018. "R&D financing and growth," MPRA Paper 86860, University Library of Munich, Germany.
    63. Cornet, Bernard & De Boisdeffre, Lionel, 2002. "Arbitrage and price revelation with asymmetric information and incomplete markets," Journal of Mathematical Economics, Elsevier, vol. 38(4), pages 393-410, December.
    64. Ken Urai & Akihiko Yoshimachi & Kohei Shiozawa, 2013. "General Equilibrium Model for an Asymmetric Information Economy with Endogenous Resale Upperbounds," Discussion Papers in Economics and Business 13-27-Rev., Osaka University, Graduate School of Economics, revised Jul 2015.
    65. Donaldson, Jason Roderick & Gromb, Denis & Piacentino, Giorgia, 2020. "The paradox of pledgeability," Journal of Financial Economics, Elsevier, vol. 137(3), pages 591-605.
    66. Anke Gerber, "undated". "Direct versus Intermediated Finance: an Old Question and a New Answer," IEW - Working Papers 087, Institute for Empirical Research in Economics - University of Zurich.

  40. Bisin, Alberto & Gottardi, P. & Guaitoli, D., 1998. "A Note on the Convergence to Competitive Equilibria in Economies with Moral Hazard," Working Papers 98-41, C.V. Starr Center for Applied Economics, New York University.

    Cited by:

    1. Alberto Bisin & Piero Gottardi, 2003. "Competitive Markets for Non-Exclusive Contracts with Adverse Selection: the Role of Entry Fees," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 6(2), pages 313-338, April.
    2. Roozbeh Hosseini, 2008. "Adverse Selection in the Annuity Market and the Role for Social Security," 2008 Meeting Papers 264, Society for Economic Dynamics.

  41. Bisin, Alberto & Gottardi, Piero, 1997. "General Competitive Analysis with Asymmetric Information," Working Papers 97-38, C.V. Starr Center for Applied Economics, New York University.

    Cited by:

    1. Sujoy Mukerji & Jean-Marc Tallon & Université Paris I Panthéon-Sorbonne, 2000. "Ambiguity Aversion and Incompleteness of Financial Markets," Economics Series Working Papers 46, University of Oxford, Department of Economics.
    2. Alberto Bisin & Danilo Guaitoli, 1998. "Moral hazard and non-exclusive contracts," Economics Working Papers 345, Department of Economics and Business, Universitat Pompeu Fabra.
    3. Citanna, Alessandro & Villanacci, Antonio, 2002. "Competitive equilibrium with moral hazard in economies with multiple commodities," Journal of Mathematical Economics, Elsevier, vol. 38(1-2), pages 117-147, September.
    4. Bloise, Gaetano & Reichlin, Pietro, 2005. "Risk and intermediation in a dual financial market economy," Research in Economics, Elsevier, vol. 59(3), pages 257-279, September.
    5. Magill, Michael & Quinzii, Martine, 2002. "Capital market equilibrium with moral hazard," Journal of Mathematical Economics, Elsevier, vol. 38(1-2), pages 149-190, September.
    6. Magill, Michael & Quinzii, Martine, 2008. "Normative properties of stock market equilibrium with moral hazard," Journal of Mathematical Economics, Elsevier, vol. 44(7-8), pages 785-806, July.
    7. Michael Magill, 2000. "Equity, Options and Efficiency in the Presence of Moral Hazard," Econometric Society World Congress 2000 Contributed Papers 1845, Econometric Society.

  42. Jérôme Detemple & Piero Gottardi, 1997. "Aggregation, Efficiency and Mutual Fund Separation in Incomplete Markets," CIRANO Working Papers 97s-11, CIRANO.

    Cited by:

    1. Anil K. Kashyap & Dimitrios P. Tsomocos & Alexandros P. Vardoulakis, 2014. "How does macroprudential regulation change bank credit supply?," NBER Working Papers 20165, National Bureau of Economic Research, Inc.
    2. de Ruyter, J.C. & Wetzels, M.G.M., 2000. "The role of corporate image and extension similarity in service brand extensions," Research Memorandum 035, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
    3. Hens, Thorsten & Reimann, Stefan & Vogt, Bodo, 2004. "Nash competitive equilibria and two-period fund separation," Journal of Mathematical Economics, Elsevier, vol. 40(3-4), pages 321-346, June.
    4. Herings, P.J.J. & Kubler, F., 1999. "The Robustness of the CAPM - A Computational Approach," Discussion Paper 1999-54, Tilburg University, Center for Economic Research.
    5. Chenghu Ma & Jiankang Zhang, 2013. "p-Weakly constrained Pareto efficiency and aggregation in incomplete markets," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 41(3), pages 605-623, September.
    6. Pilgrim, Beate, 2002. "Non-equivalence of uniqueness of equilibria in complete and in incomplete market models," Research in Economics, Elsevier, vol. 56(2), pages 143-156, June.
    7. Won, Dong Chul, 2018. "One-fund separation in incomplete markets with two assets," Finance Research Letters, Elsevier, vol. 24(C), pages 168-174.
    8. Shen, Yang & Siu, Tak Kuen, 2013. "Stochastic differential game, Esscher transform and general equilibrium under a Markovian regime-switching Lévy model," Insurance: Mathematics and Economics, Elsevier, vol. 53(3), pages 757-768.
    9. Gerber, Anke & Hens, Thorsten & Woehrmann, Peter, 2005. "Dynamic General Equilibrium and T-Period Fund Separation," Discussion Papers 2005/16, Norwegian School of Economics, Department of Business and Management Science.
    10. Hens, Thorsten, 2001. "An extension of Mantel (1976) to incomplete markets," Journal of Mathematical Economics, Elsevier, vol. 36(2), pages 141-149, November.
    11. Chenghu Ma & Jiankang Zhang, 2013. "Aggregation in Incomplete Market with General Utility Functions," Working Papers 2013-10-14, Wang Yanan Institute for Studies in Economics (WISE), Xiamen University.

  43. Gottardi, P. & Hens, T., 1995. "The Survival Assumption and Existence of Competitive Equilibria When Asset Markets are Incomplete," Papers 202, Cambridge - Risk, Information & Quantity Signals.

    Cited by:

    1. de Ruyter, J.C. & Wetzels, M.G.M., 2000. "The role of corporate image and extension similarity in service brand extensions," Research Memorandum 035, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
    2. Herings, P.J.J. & Kubler, F., 1999. "The Robustness of the CAPM - A Computational Approach," Discussion Paper 1999-54, Tilburg University, Center for Economic Research.
    3. Herings, P. J. J. & Polemarchakis, H., 2002. "Equilibrium and arbitrage in incomplete asset markets with fixed prices," Journal of Mathematical Economics, Elsevier, vol. 37(2), pages 133-155, April.
    4. Guangsug Hahn & Dong Chul Won, 2007. "Equilibrium in Financial Markets with Market Frictions," Korean Economic Review, Korean Economic Association, vol. 23, pages 267-302.
    5. Cea-Echenique, Sebastián & Torres-Martínez, Juan Pablo, 2016. "Credit segmentation in general equilibrium," Journal of Mathematical Economics, Elsevier, vol. 62(C), pages 19-27.
    6. Bernard Cornet & Ramu Gopalan, 2009. "Arbitrage and Equilibrium with Portfolio Constraints," Post-Print halshs-00441873, HAL.
    7. Abdelkrim Seghir & Leila Triki & Stella Kanellopoulou, 2004. "On the survival and irreducibility assumptions for financial markets with nominal assets," Cahiers de la Maison des Sciences Economiques b04008, Université Panthéon-Sorbonne (Paris 1).
    8. Bettzuge, Marc Oliver, 1998. "An extension of a theorem by Mitjushin and Polterovich to incomplete markets," Journal of Mathematical Economics, Elsevier, vol. 30(3), pages 285-300, October.
    9. Florig, Michael & Rivera, Jorge, 2019. "Walrasian equilibrium as limit of competitive equilibria without divisible goods," Journal of Mathematical Economics, Elsevier, vol. 84(C), pages 1-8.
    10. Elul, Ronel, 1999. "Effectively complete equilibria--A note," Journal of Mathematical Economics, Elsevier, vol. 32(1), pages 113-119, August.
    11. Herings, P.J.J. & Zhan, Yang, 2022. "Competitive Equilibria in Incomplete Markets with Risk Loving Preferences," Other publications TiSEM a8d79048-2351-4e73-97ce-9, Tilburg University, School of Economics and Management.
    12. Duffie, Darrell, 2003. "Intertemporal asset pricing theory," Handbook of the Economics of Finance, in: G.M. Constantinides & M. Harris & R. M. Stulz (ed.), Handbook of the Economics of Finance, edition 1, volume 1, chapter 11, pages 639-742, Elsevier.

  44. Gottardi, P., 1990. "An Analysis Of The Conditions For The Validity Of Modigliani-Miller Theorem With Incomplete Markets," Papers 157, Cambridge - Risk, Information & Quantity Signals.

    Cited by:

    1. Claudio Albanese & Stéphane Crépey & Rodney Hoskinson & Bouazza Saadeddine, 2021. "XVA Analysis From the Balance Sheet," Post-Print hal-03910125, HAL.
    2. Dahai Yu, 1998. "Two equivalence theorems for government finance," International Finance Discussion Papers 622, Board of Governors of the Federal Reserve System (U.S.).
    3. Atesagaoglu, Orhan Erem & Carceles-Poveda, Eva, 2015. "On the irrelevance of financial policy under market incompleteness and trading constraints," Economics Letters, Elsevier, vol. 136(C), pages 125-128.
    4. Detemple, J. & Gottardi, P. & Polemarchakis, H. M., 1995. "The relevance of financial policy," European Economic Review, Elsevier, vol. 39(6), pages 1133-1154, June.
    5. Yann Algan & Olivier Allais & Eva Carceles-Poveda, 2009. "Macroeconomic Effects of Financial Policy," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 12(4), pages 678-696, October.
    6. Chongmin Kim, 2004. "Corporate financial policy with pension accounts: an extension of the Modigliani-Miller theorem," International Economic Journal, Taylor & Francis Journals, vol. 18(2), pages 215-236.
    7. Claudio Albanese & Marc Chataigner & Stéphane Crépey, 2020. "Wealth Transfers, Indifference Pricing, and XVA Compression Schemes," Post-Print hal-03910047, HAL.

  45. Detemple, J. & Gottardi, P. & Polemarchakis, H., 1990. "The relevance of financial policy," LIDAM Discussion Papers CORE 1990011, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).

    Cited by:

    1. Dahai Yu, 1998. "Two equivalence theorems for government finance," International Finance Discussion Papers 622, Board of Governors of the Federal Reserve System (U.S.).
    2. Polemarchakis, H. M. & Seccia, G., 2000. "A Role for Monetary Policy when Prices Reveal Information: An Example," Journal of Economic Theory, Elsevier, vol. 95(1), pages 107-115, November.
    3. Chongmin Kim, 2004. "Corporate financial policy with pension accounts: an extension of the Modigliani-Miller theorem," International Economic Journal, Taylor & Francis Journals, vol. 18(2), pages 215-236.
    4. DREZE, Jacques H. & POLEMARCHAKIS, Heracles M., 1998. "Intertemporal general equilibrium and monetary theory," LIDAM Discussion Papers CORE 1998053, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).

  46. Gottardi, P., 1990. "On The Non Neutrality Of Money With Incomplete Market," Papers 158, Cambridge - Risk, Information & Quantity Signals.

    Cited by:

    1. sunanda roy, 2005. "Asset prices and capital accumulation in a monetary economy with incomplete markets," GE, Growth, Math methods 0508002, University Library of Munich, Germany.
    2. Andreas Schrimpf & Semyon Malamud, 2017. "Intermediation Markups and Monetary Policy Passthrough," 2017 Meeting Papers 812, Society for Economic Dynamics.
    3. Gottardi, Piero, 1995. "Does sunspot monetary policy matter?," Economics Letters, Elsevier, vol. 47(3-4), pages 297-303, March.
    4. Bisin, Alberto, 1998. "General Equilibrium with Endogenously Incomplete Financial Markets," Journal of Economic Theory, Elsevier, vol. 82(1), pages 19-45, September.
    5. Portier, Franck & Tallon, Jean-Marc, 1995. "On the non-neutrality and optimality of monetary policy when financial markets are incomplete: a macroeconomic perspective," Ricerche Economiche, Elsevier, vol. 49(1), pages 33-49, March.
    6. Noriega, Antonio E. & Soria, Luis M. & Velázquez, Ramón, 2008. "International evidence on stochastic and deterministic monetary neutrality," Economic Modelling, Elsevier, vol. 25(6), pages 1261-1275, November.
    7. R. Velazquez & A.E. Noriega & L.M. Soria, 2004. "International Evidence on Monetary Neutrality Under Broken Trend Stationary Models," Econometric Society 2004 Latin American Meetings 57, Econometric Society.
    8. Eugeni, Sara, 2015. "Nominal Exchange Rates and Net Foreign Assets' Dynamics: the Stabilization Role of Valuation Effects," MPRA Paper 63549, University Library of Munich, Germany.
    9. Dahai Yu, 1998. "Two equivalence theorems for government finance," International Finance Discussion Papers 622, Board of Governors of the Federal Reserve System (U.S.).
    10. Jean-Marc Tallon, 1995. "Théorie de l'équilibre général avec marchés financiers incomplets," Revue Économique, Programme National Persée, vol. 46(5), pages 1207-1239.
    11. Antoine Mandel & Vipin P. Veetil, 2019. "Monetary Dynamics in a Network Economy," Documents de travail du Centre d'Economie de la Sorbonne 19021, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
    12. Detemple, J. & Gottardi, P. & Polemarchakis, H. M., 1995. "The relevance of financial policy," European Economic Review, Elsevier, vol. 39(6), pages 1133-1154, June.
    13. Noriega, Antonio E., 2004. "Long-run monetary neutrality and the unit-root hypothesis: further international evidence," The North American Journal of Economics and Finance, Elsevier, vol. 15(2), pages 179-197, August.

  47. Gottardi, P., 1990. "On Stationary Monetary Equilibria In Overlapping Generations Models With Incomplete Markets," Papers 155, Cambridge - Risk, Information & Quantity Signals.

    Cited by:

    1. P. Siconolfi & A. Citanna, 2007. "Recursive equilibrium in stochastic OLG economies," 2007 Meeting Papers 777, Society for Economic Dynamics.
    2. Takeoka, Norio, 2006. "Stationary Markov equilibria on a non-compact self-justified set," Journal of Mathematical Economics, Elsevier, vol. 42(3), pages 269-290, June.
    3. Kazuya Kamiya & So Kubota & Kayuna Nakajima, 2011. "Efficient estimation and particle filter for max-stable processes," CIRJE F-Series CIRJE-F-792, CIRJE, Faculty of Economics, University of Tokyo.
    4. Wigniolle, B., 2014. "Optimism, pessimism and financial bubbles," Journal of Economic Dynamics and Control, Elsevier, vol. 41(C), pages 188-208.
    5. Olivier J. Blanchard & Philippe Weil, 2001. "Dynamic Efficiency, the Riskless Rate, and Debt Ponzi Games under Uncertainty," Post-Print hal-01030812, HAL.
    6. Andreas Schrimpf & Semyon Malamud, 2017. "Intermediation Markups and Monetary Policy Passthrough," 2017 Meeting Papers 812, Society for Economic Dynamics.
    7. Kazuya Kamiya & So Kubota & Kayuna Nakajima, 2017. "Real Indeterminacy of Stationary Monetary Equilibria in Centralized Economies," The Japanese Economic Review, Springer, vol. 68(4), pages 497-520, December.
    8. Carsten Nielsen, 2011. "Price stabilizing, Pareto improving policies," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 47(2), pages 459-500, June.
    9. Eisei Ohtaki, 2020. "Optimality in an OLG model with nonsmooth preferences," Working Papers e145, Tokyo Center for Economic Research.
    10. Sara Eugeni, 2019. "Exchange rate volatility and cooperation in an incomplete markets' economy," Department of Economics Working Papers 2019_02, Durham University, Department of Economics.
    11. Antonio Jiménez-Martínez & Subir Chattopadhyay, 2000. "The Unit Root Property When Markets Are Sequentially Incomplete," Working Papers. Serie AD 2000-32, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
    12. Chattopadhyay, Subir & Gottardi, Piero, 1999. "Stochastic OLG Models, Market Structure, and Optimality," Journal of Economic Theory, Elsevier, vol. 89(1), pages 21-67, November.
    13. Eugeni, Sara, 2015. "Nominal Exchange Rates and Net Foreign Assets' Dynamics: the Stabilization Role of Valuation Effects," MPRA Paper 63549, University Library of Munich, Germany.
    14. Eisei Ohtaki & Hiroyuki Ozaki, 2013. "Monetary Equilibria and Knightian Uncertainty," Keio/Kyoto Joint Global COE Discussion Paper Series 2012-032, Keio/Kyoto Joint Global COE Program.
    15. Jean-Marc Tallon, 1995. "Théorie de l'équilibre général avec marchés financiers incomplets," Revue Économique, Programme National Persée, vol. 46(5), pages 1207-1239.
    16. Maldonado, Wilfredo L. & Orrillo, Jaime, 2006. "Two-Sided Altruism in an OLG Model with Incomplete Markets and Default," Brazilian Review of Econometrics, Sociedade Brasileira de Econometria - SBE, vol. 26(2), November.
    17. Eisei Ohtaki & Hiroyuki Ozaki, 2014. "Optimality in a Stochastic OLG Model with Ambiguity," Working Papers e069, Tokyo Center for Economic Research.
    18. Ohtaki, Eisei, 2014. "Tractable graphical device for analyzing stationary stochastic OLG economies," Journal of Macroeconomics, Elsevier, vol. 40(C), pages 16-26.
    19. Florenzano, Monique & Gourdel, Pascal & Pascoa, Mario Rui, 2001. "Overlapping generations models with incomplete markets," Journal of Mathematical Economics, Elsevier, vol. 36(3), pages 201-218, December.
    20. Ohtaki, Eisei, 2013. "Golden rule optimality in stochastic OLG economies," Mathematical Social Sciences, Elsevier, vol. 65(1), pages 60-66.
    21. Kaas, Leo, 1998. "Multiplicity of Cournot Equilibria and Involuntary Unemployment," Journal of Economic Theory, Elsevier, vol. 80(2), pages 332-349, June.
    22. Subir Chattopadhyay, 2001. "Long-Lived Assets, Incomplete Markets, And Optimality," Working Papers. Serie AD 2001-10, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
    23. Chattopadhyay, Subir & Jimnez-Martnez, Antonio, 2009. "Dividend paying assets, the unit root property, and suboptimality," Journal of Mathematical Economics, Elsevier, vol. 45(3-4), pages 223-232, March.
    24. Citanna, Alessandro & Siconolfi, Paolo, 2007. "Short-memory equilibrium in stochastic overlapping generations economies," Journal of Economic Theory, Elsevier, vol. 134(1), pages 448-469, May.
    25. Carsten Krabbe Nielsen, 2004. "Stabilizing, Pareto Improving Policies in an OLG model with Incomplete Markets: The Rational Expectations and Rational Beliefs Case," Econometric Society 2004 Far Eastern Meetings 617, Econometric Society.
    26. Alessandro Citanna & Paolo Siconolfi, 2008. "On the nonexistence of recursive equilibrium in stochastic OLG economies," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 37(3), pages 417-437, December.

  48. Piero Gottardi & Atsushi Kajii, "undated". "Generic Existence of Sunspot Equilibria: The Case of real Assets," Penn CARESS Working Papers 4c2e0b92f85ceac3016cafb02, Penn Economics Department.

    Cited by:

    1. Franklin Allen & Douglas Gale, 2003. "Financial Fragility, Liquidity and Asset Prices," Center for Financial Institutions Working Papers 01-37, Wharton School Center for Financial Institutions, University of Pennsylvania.
    2. Roger Guesnerie, 2006. "General equilibrium, coordination and multiplicity on spot markets," PSE Working Papers halshs-00590540, HAL.

  49. Julio Dvila & Piero Gottardi & Atsushi Kajii, "undated". "Local Sunspot Equilibria Reconsidered," Penn CARESS Working Papers 164a7928416be97f49ebc2b58, Penn Economics Department.

    Cited by:

    1. Dmitry Levando & Maxim Sakharov, 2018. "Natural Instability of Equilibrium Prices," Working Papers 2018:01, Department of Economics, University of Venice "Ca' Foscari".
    2. Bloise, Gaetano, 2004. "A note on sunspot equilibrium in sequential economies," Research in Economics, Elsevier, vol. 58(1), pages 59-74, March.
    3. Julio Davila, 2000. "Reducing Overlapping Generations Economies to Finite Economies," Econometric Society World Congress 2000 Contributed Papers 1124, Econometric Society.
    4. Fabrizio Orrego, 2014. "Habit formation and indeterminacy in overlapping generations models," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 55(1), pages 225-241, January.

Articles

  1. Sarah Auster & Piero Gottardi & Ronald Wolthoff, 2025. "Simultaneous Search and Adverse Selection," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 92(6), pages 3541-3573.
    See citations under working paper version above.
  2. Auster, Sarah & Gottardi, Piero, 2024. "Sorting versus screening in decentralized markets with adverse selection," Journal of Economic Theory, Elsevier, vol. 220(C).
    See citations under working paper version above.
  3. Ábrahám, Árpád & Gottardi, Piero & Hubmer, Joachim & Mayr, Lukas, 2023. "Tax wedges, financial frictions and misallocation," Journal of Public Economics, Elsevier, vol. 227(C).
    See citations under working paper version above.
  4. Vitor Farinha Luz & Piero Gottardi & Humberto Moreira, 2023. "Risk Classification in Insurance Markets with Risk and Preference Heterogeneity," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 90(6), pages 3022-3082.
    See citations under working paper version above.
  5. Bisin, Alberto & Gottardi, Piero, 2021. "Efficient policy interventions in an epidemic," Journal of Public Economics, Elsevier, vol. 200(C).
    See citations under working paper version above.
  6. Cabrales, Antonio & Feri, Francesco & Gottardi, Piero & Meléndez-Jiménez, Miguel A., 2020. "Can there be a market for cheap-talk information? An experimental investigation," Games and Economic Behavior, Elsevier, vol. 121(C), pages 368-381.
    See citations under working paper version above.
  7. Gale, Douglas & Gottardi, Piero, 2020. "A general equilibrium theory of banks' capital structure," Journal of Economic Theory, Elsevier, vol. 186(C).

    Cited by:

    1. Segura, Anatoli & Villacorta, Alonso, 2023. "The paradox of safe asset creation," Journal of Economic Theory, Elsevier, vol. 210(C).
    2. Allen, Franklin & Barbalau, Adelina, 2024. "Security design: A review," Journal of Financial Intermediation, Elsevier, vol. 60(C).
    3. Anand, Kartik & Mankart, Jochen, 2020. "Sovereign risk and bank fragility," Discussion Papers 54/2020, Deutsche Bundesbank.
    4. Vadim Elenev & Tim Landvoigt & Stijn Van Nieuwerburgh, 2021. "A Macroeconomic Model With Financially Constrained Producers and Intermediaries," Econometrica, Econometric Society, vol. 89(3), pages 1361-1418, May.
    5. Jens Dick‐Nielsen & Jacob Gyntelberg & Christoffer Thimsen, 2022. "The Cost of Capital for Banks: Evidence from Analyst Earnings Forecasts," Journal of Finance, American Finance Association, vol. 77(5), pages 2577-2611, October.

  8. Auster, Sarah & Gottardi, Piero, 2019. "Competing mechanisms in markets for lemons," Theoretical Economics, Econometric Society, vol. 14(3), July.
    See citations under working paper version above.
  9. Piero Gottardi & Vincent Maurin & Cyril Monnet, 2019. "A theory of repurchase agreements, collateral re-use, and repo intermediation," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 33, pages 30-56, July.
    See citations under working paper version above.
  10. Antonio Cabrales & Piero Gottardi & Fernando Vega-Redondo, 2017. "Risk Sharing and Contagion in Networks," The Review of Financial Studies, Society for Financial Studies, vol. 30(9), pages 3086-3127.
    See citations under working paper version above.
  11. Gottardi, Piero & Tallon, Jean Marc & Ghirardato, Paolo, 2017. "Flexible contracts," Games and Economic Behavior, Elsevier, vol. 103(C), pages 145-167.
    See citations under working paper version above.
  12. Piero Gottardi & Atsushi Kajii & Tomoyuki Nakajima, 2016. "Constrained Inefficiency and Optimal Taxation with Uninsurable Risks," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 18(1), pages 1-28, February.
    See citations under working paper version above.
  13. Piero Gottardi & Atsushi Kajii & Tomoyuki Nakajima, 2015. "Optimal Taxation and Debt with Uninsurable Risks to Human Capital Accumulation," American Economic Review, American Economic Association, vol. 105(11), pages 3443-3470, November.
    See citations under working paper version above.
  14. Ronel Elul & Piero Gottardi, 2015. "Bankruptcy: Is It Enough to Forgive or Must We Also Forget?," American Economic Journal: Microeconomics, American Economic Association, vol. 7(4), pages 294-338, November.
    See citations under working paper version above.
  15. Douglas Gale & Piero Gottardi, 2015. "Capital Structure, Investment, and Fire Sales," The Review of Financial Studies, Society for Financial Studies, vol. 28(9), pages 2502-2533.
    See citations under working paper version above.
  16. Piero Gottardi & Felix Kubler, 2015. "Dynamic Competitive Economies with Complete Markets and Collateral Constraints," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 82(3), pages 1119-1153.
    See citations under working paper version above.
  17. Piero Gottardi & Rohit Rahi, 2014. "Value Of Information In Competitive Economies With Incomplete Markets," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 55(1), pages 57-81, February.
    See citations under working paper version above.
  18. Cabrales, Antonio & Gottardi, Piero, 2014. "Markets for information: Of inefficient firewalls and efficient monopolies," Games and Economic Behavior, Elsevier, vol. 83(C), pages 24-44.
    See citations under working paper version above.
  19. Piero Gottardi & Rohit Rahi, 2013. "Risk sharing and retrading in incomplete markets," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 54(2), pages 287-304, October.
    See citations under working paper version above.
  20. Gottardi, Piero & Kubler, Felix, 2011. "Social security and risk sharing," Journal of Economic Theory, Elsevier, vol. 146(3), pages 1078-1106, May.
    See citations under working paper version above.
  21. Bisin, A. & Geanakoplos, J.D. & Gottardi, P. & Minelli, E. & Polemarchakis, H., 2011. "Markets and contracts," Journal of Mathematical Economics, Elsevier, vol. 47(3), pages 279-288.
    See citations under working paper version above.
  22. Douglas Gale & Piero Gottardi, 2011. "Bankruptcy, Finance Constraints, and the Value of the Firm," American Economic Journal: Microeconomics, American Economic Association, vol. 3(2), pages 1-37, May.
    See citations under working paper version above.
  23. Alberto Bisin & Piero Gottardi & Adriano A. Rampini, 2008. "Managerial Hedging and Portfolio Monitoring," Journal of the European Economic Association, MIT Press, vol. 6(1), pages 158-209, March.
    See citations under working paper version above.
  24. Julio Dávila & Piero Gottardi & Atsushi Kajii, 2007. "Local Sunspot Equilibria Reconsidered," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 31(3), pages 401-425, June.
    See citations under working paper version above.
  25. Piero Gottardi & Belén Jerez, 2007. "Comment on "Bertrand and Walras Equilibria under Moral Hazard"," Journal of Political Economy, University of Chicago Press, vol. 115(5), pages 893-900, October.

    Cited by:

    1. Daron Acemoglu & Alp Simsek, 2010. "Moral Hazard and Efficiency in General Equilibrium with Anonymous Trading," Levine's Working Paper Archive 661465000000000232, David K. Levine.
    2. Joon Song, 2012. "Futures market: contractual arrangement to restrain moral hazard in teams," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 51(1), pages 163-189, September.
    3. Paolo Siconolfi & Aldo Rustichini, 2012. "Economies with Observable Types," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 15(1), pages 57-71, January.

  26. Alberto Bisin & Piero Gottardi, 2006. "Efficient Competitive Equilibria with Adverse Selection," Journal of Political Economy, University of Chicago Press, vol. 114(3), pages 485-516, June.
    See citations under working paper version above.
  27. Piero Gottardi & Roberto Serrano, 2005. "Market Power And Information Revelation In Dynamic Trading," Journal of the European Economic Association, MIT Press, vol. 3(6), pages 1279-1317, December.
    See citations under working paper version above.
  28. Alberto Bisin & Piero Gottardi, 2003. "Competitive Markets for Non-Exclusive Contracts with Adverse Selection: the Role of Entry Fees," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 6(2), pages 313-338, April.

    Cited by:

    1. Andrea Attar & Thomas Mariotti & François Salanié, 2010. "Non-Exclusive Competition in the Market for Lemons," CEIS Research Paper 159, Tor Vergata University, CEIS, revised 28 May 2010.
    2. Mariotti, Thomas & Attar, Andrea & Salanié, François, 2016. "Multiple Contracting in Insurance Markets," CEPR Discussion Papers 11631, C.E.P.R. Discussion Papers.
    3. Andrea Attar & Thomas Mariotti & François Salanié, 2021. "Entry-proofness and discriminatory pricing under adverse selection," Working Papers hal-03485384, HAL.
    4. Jason Donaldson & Denis Gromb & Giorgia Piacentino, 2019. "Conflicting Priorities: A Theory of Covenants and Collateral," 2019 Meeting Papers 157, Society for Economic Dynamics.
    5. Donaldson, Jason Roderick & Gromb, Denis & Piacentino, Giorgia, 2020. "The paradox of pledgeability," Journal of Financial Economics, Elsevier, vol. 137(3), pages 591-605.

  29. Gottardi, Piero & Mas-Colell, Andreu, 2000. "A note on the decomposition (at a point) of aggregate excess demand on the Grassmannian1," Journal of Mathematical Economics, Elsevier, vol. 33(4), pages 463-473, May.

    Cited by:

    1. Momi, Takeshi, 2010. "Excess demand function around critical prices in incomplete markets," Journal of Mathematical Economics, Elsevier, vol. 46(3), pages 293-302, May.
    2. Chiaki Hara, 2010. "Pareto Improvement and Agenda Control of Sequential Financial Innovations," KIER Working Papers 748, Kyoto University, Institute of Economic Research.
    3. Takeshi Momi, "undated". "Excess Demand Functions with Incomplete Markets - A Global Result," IEW - Working Papers 096, Institute for Empirical Research in Economics - University of Zurich.
    4. Hens, Thorsten, 2001. "An extension of Mantel (1976) to incomplete markets," Journal of Mathematical Economics, Elsevier, vol. 36(2), pages 141-149, November.
    5. Momi, Takeshi, 2009. "Excess demand functions when new assets are introduced," Journal of Economic Theory, Elsevier, vol. 144(4), pages 1832-1843, July.
    6. Hara, Chiaki, 2011. "Pareto improvement and agenda control of sequential financial innovations," Journal of Mathematical Economics, Elsevier, vol. 47(3), pages 336-345.

  30. Piero Gottardi & Atsushi Kajii, 1999. "The Structure of Sunspot Equilibria: The Role of Multiplicity," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 66(3), pages 713-732.

    Cited by:

    1. Thorsten Hens & Beate Pilgrim, "undated". "Subsidizing Charitable Giving in a Field Experiment," IEW - Working Papers 070, Institute for Empirical Research in Economics - University of Zurich.
    2. Atsushi Kajii, 2009. "Sunspot Equilibria In A Production Economy: Do Rational Animal Spirits Cause Overproduction?," The Japanese Economic Review, Japanese Economic Association, vol. 60(1), pages 35-54, March.
    3. Xu, Zhiwei & Zhou, Fei & Zhou, Jing, 2022. "Sentiments and real business cycles," Journal of Economic Dynamics and Control, Elsevier, vol. 141(C).
    4. Acharya, Sushant & Benhabib, Jess & Huo, Zhen, 2021. "The anatomy of sentiment-driven fluctuations," Journal of Economic Theory, Elsevier, vol. 195(C).
    5. Hens, Thorsten & Pilgrim, Beate, 2004. "Sunspot Equilibria and the Transfer Paradox," Discussion Papers 2004/14, Norwegian School of Economics, Department of Business and Management Science.
    6. Franklin Allen & Douglas Gale, 2003. "Financial Fragility, Liquidity and Asset Prices," Center for Financial Institutions Working Papers 01-37, Wharton School Center for Financial Institutions, University of Pennsylvania.
    7. Sushant Acharya & Keshav Dogra & Sanjay R. Singh, 2023. "The Financial Origins of Non-Fundamental Risk," Working Paper Series 2023-20, Federal Reserve Bank of San Francisco.
    8. Alessandro, CITANNA & SCHMEDDERS, Karl, 2002. "Controlling price volatility through financial innovation," HEC Research Papers Series 749, HEC Paris.
    9. Thorsten Hens & Beate Pilgrim, 2004. "Sunspot equilibria and the transfer paradox," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 24(3), pages 583-602, October.
    10. Atsushi Kajii, 2006. "Welfare Gains and Losses in Sunspot Equilibria," KIER Working Papers 624, Kyoto University, Institute of Economic Research.
    11. Aditya Goenka & Stefano Matta, 2008. "Manipulation of endowments and sunspot equilibria," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 36(2), pages 267-282, August.
    12. Luis Fernando Medina, 2005. "The Comparative Statics of Collective Action: A Pragmatic Approach to Games with Multiple Equilibria," Rationality and Society, , vol. 17(4), pages 423-452, November.
    13. Julio Dávila & Piero Gottardi & Atsushi Kajii, 2007. "Local Sunspot Equilibria Reconsidered," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 31(3), pages 401-425, June.
    14. Gottardi, Piero & Kajii, Atsushi, 2003. "A note on the regularity of competitive equilibria and asset structures," Journal of Mathematical Economics, Elsevier, vol. 39(7), pages 763-776, September.
    15. Drèze, Jacques H. & Herings, P. Jean-Jacques, 2008. "Sequentially complete markets remain incomplete," Economics Letters, Elsevier, vol. 100(3), pages 445-447, September.
    16. Thorsten Hens & Beate Pilgrim & Janos Mayer, "undated". "Existence of Sunspot Equilibria and Uniqueness of Spot Market Equilibria: The Case of Intrinsically Complete Markets," IEW - Working Papers 188, Institute for Empirical Research in Economics - University of Zurich.
    17. Hens, Thorsten & Mayer, Janós & Pilgrim, Beate, 2004. "Existence of Sunspot Equilibria and Uniqueness of Spot Market Equilibria: The Case of Intrinsically Complete Markets," Discussion Papers 2004/15, Norwegian School of Economics, Department of Business and Management Science.
    18. Citanna, Alessandro & Siconolfi, Paolo, 2007. "Short-memory equilibrium in stochastic overlapping generations economies," Journal of Economic Theory, Elsevier, vol. 134(1), pages 448-469, May.
    19. Hoelle, Matthew, 2014. "The relation between sunspot effects and multiplicity in incomplete markets models with numeraire assets," Journal of Mathematical Economics, Elsevier, vol. 50(C), pages 119-127.
    20. Stangebye, Zachary, 2015. "Dynamic Panics: Theory and Application to the Eurozone," MPRA Paper 69967, University Library of Munich, Germany.

  31. Bisin, Alberto & Gottardi, Piero, 1999. "Competitive Equilibria with Asymmetric Information," Journal of Economic Theory, Elsevier, vol. 87(1), pages 1-48, July.
    See citations under working paper version above.
  32. Chattopadhyay, Subir & Gottardi, Piero, 1999. "Stochastic OLG Models, Market Structure, and Optimality," Journal of Economic Theory, Elsevier, vol. 89(1), pages 21-67, November.
    See citations under working paper version above.
  33. Thorsten Hens & Piero Gottardi, 1999. "Disaggregation of excess demand and comparative statics with incomplete markets and nominal assets," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 13(2), pages 287-308.

    Cited by:

    1. Momi, Takeshi, 2010. "Excess demand function around critical prices in incomplete markets," Journal of Mathematical Economics, Elsevier, vol. 46(3), pages 293-302, May.
    2. JÊrÆme B. Detemple & Piero Gottardi, 1998. "Aggregation, efficiency and mutual fund separation in incomplete markets," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 11(2), pages 443-455.
    3. Chiaki Hara, 2010. "Pareto Improvement and Agenda Control of Sequential Financial Innovations," KIER Working Papers 748, Kyoto University, Institute of Economic Research.
    4. Douglas W. Blackburn & Andrey D. Ukhov, 2013. "Individual vs. Aggregate Preferences: The Case of a Small Fish in a Big Pond," Management Science, INFORMS, vol. 59(2), pages 470-484, August.
    5. Gottardi, Piero & Mas-Colell, Andreu, 2000. "A note on the decomposition (at a point) of aggregate excess demand on the Grassmannian1," Journal of Mathematical Economics, Elsevier, vol. 33(4), pages 463-473, May.
    6. Takeshi Momi, "undated". "Excess Demand Functions with Incomplete Markets - A Global Result," IEW - Working Papers 096, Institute for Empirical Research in Economics - University of Zurich.
    7. Hens, Thorsten, 2001. "An extension of Mantel (1976) to incomplete markets," Journal of Mathematical Economics, Elsevier, vol. 36(2), pages 141-149, November.
    8. Momi, Takeshi, 2009. "Excess demand functions when new assets are introduced," Journal of Economic Theory, Elsevier, vol. 144(4), pages 1832-1843, July.
    9. Thorsten Hens, "undated". "An Extension of Mantel (1976) to Incomplete Markets," IEW - Working Papers 071, Institute for Empirical Research in Economics - University of Zurich.
    10. Hara, Chiaki, 2011. "Pareto improvement and agenda control of sequential financial innovations," Journal of Mathematical Economics, Elsevier, vol. 47(3), pages 336-345.

  34. JÊrÆme B. Detemple & Piero Gottardi, 1998. "Aggregation, efficiency and mutual fund separation in incomplete markets," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 11(2), pages 443-455.
    See citations under working paper version above.
  35. Gottardi, Piero & Hens, Thorsten, 1996. "The Survival Assumption and Existence of Competitive Equilibria When Asset Markets are Incomplete," Journal of Economic Theory, Elsevier, vol. 71(2), pages 313-323, November.
    See citations under working paper version above.
  36. Gottardi, Piero, 1996. "Stationary Monetary Equilibria in Overlapping Generations Models with Incomplete Markets," Journal of Economic Theory, Elsevier, vol. 71(1), pages 75-89, October.
    See citations under working paper version above.
  37. Gottardi, Piero, 1995. "Does sunspot monetary policy matter?," Economics Letters, Elsevier, vol. 47(3-4), pages 297-303, March.

    Cited by:

    1. Carsten Nielsen, 2011. "Price stabilizing, Pareto improving policies," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 47(2), pages 459-500, June.
    2. Carsten Krabbe Nielsen, 2004. "Stabilizing, Pareto Improving Policies in an OLG model with Incomplete Markets: The Rational Expectations and Rational Beliefs Case," Econometric Society 2004 Far Eastern Meetings 617, Econometric Society.

  38. Detemple, J. & Gottardi, P. & Polemarchakis, H. M., 1995. "The relevance of financial policy," European Economic Review, Elsevier, vol. 39(6), pages 1133-1154, June.
    See citations under working paper version above.
  39. Gottardi, Piero, 1995. "An Analysis of the Conditions for the Validity of Modigliani-Miller Theorem with Incomplete Markets," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 5(2), pages 191-207, March.
    See citations under working paper version above.
  40. Gottardi Piero, 1994. "On the Non-neutrality of Money with Incomplete Markets," Journal of Economic Theory, Elsevier, vol. 62(1), pages 209-220, February.
    See citations under working paper version above.
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