Welfare-improving financial innovation with a single good

DOI10.1007/S001990050241MaRDI QIDQ1275879zbMATH OpenOpenAlexFDO

Authors Ronel Elul

Publication date 4 August 1999

Published in Economic Theory (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1007/s001990050241

zbMATH Keywords

constrained suboptimalfinancial innovationsingle-good incomplete markets

Mathematics Subject Classification ID

General equilibrium theory (91B50)

Recommendations

• Welfare effects of financial innovation in incomplete markets economies with several consumption goods
• Pareto improving financial innovation in incomplete markets
• Financial innovation in a general equilibrium model
• The structure of the pseudo-equilibrium manifold in economies with incomplete markets

Cited in

(11)

• Financial innovation, precautionary saving and the risk-free rate
• Pareto improving financial innovation in incomplete markets
• Income taxation when markets are incomplete
• New financial markets: who gains and who loses
• Welfare effects of financial innovation in incomplete markets economies with several consumption goods
• Welfare and excess volatility of exchange rates
• Can everyone benefit from innovation?
• The taxation of trades in assets
• Pareto improvement and agenda control of sequential financial innovations
• Value of information in competitive economies with incomplete markets
• Incomplete markets and volatility

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