When Borch’s Theorem does not apply: some key implications of market incompleteness, with policy relevance today
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More about this item
Keywordsgeneral equilibrium; incomplete markets; temporary equilibrium; constrained efficiency; price rigidities; multiple equilibria; coordination failures; Phillips curve;
- D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
- D52 - Microeconomics - - General Equilibrium and Disequilibrium - - - Incomplete Markets
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
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