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.
|Date of creation:||00 Mar 2000|
|Contact details of provider:|| Postal: Voie du Roman Pays 34, 1348 Louvain-la-Neuve (Belgium)|
Fax: +32 10474304
Web page: http://www.uclouvain.be/core
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Herakles M. Polemarchakis & Paolo Siconolfi, 1995.
"Generic existence of competitive equilibria when the asset market is incomplete: A symmetric argument,"
Springer;Society for the Advancement of Economic Theory (SAET), vol. 6(3), pages 495-510.
- Polemarchakis, H. & Siconolfi, P., "undated". "Generic existence of competitive equilibria when the asset market is incomplete: a symmetric argument," CORE Discussion Papers RP 1181, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- POLEMARCHAKIS, Heracles & SICONOLFI, Paolo, 1993. "Generic Existence of Competitive Equilibria when the Asset Market is Incomplete : A Symmetric Argument," CORE Discussion Papers 1993055, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Polemarchakis, H. M., 1988. "Portfolio choice, exchange rates, and indeterminacy," Journal of Economic Theory, Elsevier, vol. 46(2), pages 414-421, December.
- Joseph E. Stiglitz, 1982. "The Inefficiency of the Stock Market Equilibrium," Review of Economic Studies, Oxford University Press, vol. 49(2), pages 241-261.
- Smale, S., 1974. "Global analysis and economics III : Pareto Optima and price equilibria," Journal of Mathematical Economics, Elsevier, vol. 1(2), pages 107-117, August.
- Magill, Michael & Shafer, Wayne, 1991. "Incomplete markets," Handbook of Mathematical Economics,in: W. Hildenbrand & H. Sonnenschein (ed.), Handbook of Mathematical Economics, edition 1, volume 4, chapter 30, pages 1523-1614 Elsevier.
- Magill, M. & Quinzii, M., 1992. "Real effects of money in general equilibrium," Journal of Mathematical Economics, Elsevier, vol. 21(4), pages 301-342.
- Magill, M. & Quinzii, M., 1988. "Real Effects Of Money In General Equilibrium," Papers 8826, Southern California - Department of Economics.
- Magill,Michael & Quinzii,Martine, 1989. "Real effects of money in general equilibrium," Discussion Paper Serie A 232, University of Bonn, Germany.