Pareto improving financial innovation in incomplete markets
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Publication:1389232
DOI10.1007/S001990050198zbMATH Open0901.90026OpenAlexW2090864234MaRDI QIDQ1389232FDOQ1389232
David Cass, Alessandro Citanna
Publication date: 11 June 1998
Published in: Economic Theory (Search for Journal in Brave)
Full work available at URL: https://doi.org/10.1007/s001990050198
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Cited In (30)
- Excess price volatility and financial innovation
- Financial innovation, precautionary saving and the risk-free rate
- Inefficiency of equilibria with incomplete markets
- The taxation of trades in assets
- A note on the regularity of competitive equilibria and asset structures.
- Subscription equilibrium with production: non-neutrality and constrained suboptimality
- The degree of indeterminacy of equilibria with incomplete markets
- Pareto improving interventions in a general equilibrium model with private provision of public goods
- Pareto improvement and agenda control of sequential financial innovations
- Does sunspot monetary policy matter?
- VALUE OF INFORMATION IN COMPETITIVE ECONOMIES WITH INCOMPLETE MARKETS
- Complexity and financial stability in a large random economy
- Financial intermediation and the welfare theorems in incomplete markets
- Transaction costs and planner intervention
- Income taxation when markets are incomplete
- Incomplete markets and derivative assets
- Regulating collateral-requirements when markets are incomplete
- New financial markets: who gains and who loses
- The identification of preferences from equilibrium prices under uncertainty
- More hedging instruments may destabilize markets
- Excess demand functions when new assets are introduced
- Taxes and money in incomplete financial markets
- A note on spanning with options
- Incomplete markets and volatility
- Constrained suboptimality when prices are non-competitive
- Incomplete markets, allocative efficiency, and the information revealed by prices
- Externalities, consumption constraints and regular economies
- Changes in the firms behavior after the opening of markets of allowances
- Welfare effects of short-sale constraints under heterogeneous beliefs
- Welfare and excess volatility of exchange rates
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