Constrained suboptimality and financial innovation in GEI with a single commodity
In this paper we exploit global analysis to explore welfare properties of a standard one-commodity GEI, under different notions of constrained Pareto optimality. In a unifying framework we revise and extend some of the leading results of the literature on incomplete markets and government intervention, including those concerning financial innovation.
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"Real Effects Of Money In General Equilibrium,"
8826, Southern California - Department of Economics.
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