Real indeterminacy with financial assets
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Publication:1112713
DOI10.1016/0022-0531(89)90100-2zbMath0659.90026WikidataQ56936224 ScholiaQ56936224MaRDI QIDQ1112713
Andreu Mas-Colell, John D. Geanakoplos
Publication date: 1989
Published in: Journal of Economic Theory (Search for Journal in Brave)
Full work available at URL: https://cowles.yale.edu/sites/default/files/files/pub/d07/d0770-r.pdf
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Equilibrium in incomplete markets. I: A basic model of generic existence ⋮ Real indeterminacy in incomplete financial market economies without aggregate risk ⋮ Indeterminacy in incomplete market economies ⋮ Incomplete markets and individual risks ⋮ Real indeterminacy of equilibria in a sunspot economy with inside money ⋮ The structure of the set of sunspot equilibria in economies with incomplete financial markets ⋮ Sunspots and incomplete financial markets: The general case ⋮ Asset markets and the information revealed by prices ⋮ Real indeterminacy of general equilibrium under Knightian uncertainty ⋮ Partially revealing rational expectations equilibria with nominal assets ⋮ On default and uniqueness of monetary equilibria ⋮ Statistical equilibrium in one-step forward looking economic models ⋮ Musings on the Cass trick ⋮ Monetary equilibria in a cash-in-advance economy with incomplete financial markets ⋮ Real indeterminacy of stationary equilibria in matching models with divisible money ⋮ Portfolio choice, exchange rates, and indeterminacy ⋮ Perils of unconventional monetary policy ⋮ The degree of indeterminacy of equilibria with incomplete markets ⋮ Risk sharing and retrading in incomplete markets ⋮ Sequentially complete markets remain incomplete ⋮ Introduction to general equilibrium ⋮ Strategic market games: an introduction. ⋮ Monetary equilibrium with missing markets. ⋮ Equilibrium analysis, banking and financial instability. ⋮ Indeterminacy of rational expectations equilibria in sequential financial markets. ⋮ Pareto improvement and agenda control of sequential financial innovations ⋮ Welfare and excess volatility of exchange rates ⋮ An introduction to general equilibrium with incomplete asset markets ⋮ Structure of financial markets and real indeterminacy of equilibria ⋮ The structure of financial equilibrium with exogenous yields. The case of restricted participation ⋮ Defaults and infinite prices in a stochastic pure exchange model ⋮ Income taxation when markets are incomplete ⋮ Anchoring expectations of inflation ⋮ Term structure and forward guidance as instruments of monetary policy ⋮ Generic determinacy and money non-neutrality of international monetary equilibria ⋮ Sunspot equilibria and incomplete financial markets ⋮ Indeterminacy in general equilibrium economies with incomplete financial markets. Mixed asset returns ⋮ VALUE OF INFORMATION IN COMPETITIVE ECONOMIES WITH INCOMPLETE MARKETS ⋮ General economic equilibrium with financial markets and retainability ⋮ Real effects of money in general equilibrium ⋮ Incomplete financial markets and differential information ⋮ Price-level volatility and welfare in incomplete markets with sunspots ⋮ Infinite horizon equilibrium with incomplete markets ⋮ Arbitrage and equilibrium with portfolio constraints ⋮ Incentives and competitive allocations in exchange economies with incomplete markets ⋮ Existence of equilibria with incomplete markets: The case of smooth returns ⋮ An analysis of the conditions for the validity of Modigliani-Miller theorem with incomplete markets ⋮ EQUILIBRIUM INDETERMINACY IN A MODEL OF CONSTRAINED FINANCIAL MARKETS ⋮ General equilibrium with endogenously incomplete financial markets ⋮ Prices, asset markets and indeterminacy ⋮ Incomplete markets over an infinite horizon: Long-lived securities and speculative bubbles ⋮ Indeterminacy of Cournot-Walras equilibrium with incomplete markets ⋮ Inflation-stabilization risk in economies with incomplete asset markets ⋮ Notes on sequence economies, transaction costs, and uncertainty ⋮ On the number of currencies needed to implement the complete asset market allocation ⋮ The structure of the set of critical equilibria with incomplete markets ⋮ A role for monetary policy when prices reveal information: An example ⋮ A remark on the fiscal theory of price determination ⋮ Inefficiency of equilibria with incomplete markets ⋮ Equilibria with options: Existence and indeterminacy ⋮ Real indeterminacy of equilibria and manipulability
Cites Work
- Equilibrium in economies with incomplete financial markets
- Stochastic equilibria with incomplete financial markets
- On the optimality of equilibrium when the market structure is incomplete
- Existence of Equilibrium of Plans, Prices, and Price Expectations in a Sequence of Markets
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