Sunspot equilibria and incomplete financial markets

DOI10.1016/0304-4068(91)90034-QzbMath0736.90014OpenAlexW2013367843MaRDI QIDQ1176222

Paolo Siconolfi

Publication date: 25 June 1992

Published in: Journal of Mathematical Economics (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/0304-4068(91)90034-q

zbMATH Keywords

equilibrium allocationsincomplete financial marketsinefficient sunspot allocationstwo-period pure exchange competitive economy

Mathematics Subject Classification ID

General equilibrium theory (91B50)

Related Items

Real indeterminacy in incomplete financial market economies without aggregate risk ⋮ 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 ⋮ Existence of sunspot equilibrium and absence of non-sunspot equilibria in a financial economy ⋮ Growth, externalities, and sunspots ⋮ Price-level volatility and welfare in incomplete markets with sunspots

Cites Work

• Unnamed Item
• Real indeterminacy with financial assets
• Smooth Preferences
• The Structure of Financial Equilibrium with Exogenous Yields: The Case of Incomplete Markets

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