Pareto improving financial innovation in incomplete markets

From MaRDI portal
Publication:1389232

DOI10.1007/s001990050198zbMath0901.90026OpenAlexW2090864234MaRDI QIDQ1389232

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




Related Items (28)

Welfare effects of short-sale constraints under heterogeneous beliefsFinancial intermediation and the welfare theorems in incomplete marketsIncomplete markets and derivative assetsDoes sunspot monetary policy matter?A note on spanning with optionsFinancial innovation, precautionary saving and the risk-free rateTaxes and money in incomplete financial marketsThe degree of indeterminacy of equilibria with incomplete marketsPareto improving interventions in a general equilibrium model with private provision of public goodsSubscription equilibrium with production: non-neutrality and constrained suboptimalityRegulating collateral-requirements when markets are incompleteA note on the regularity of competitive equilibria and asset structures.Pareto improvement and agenda control of sequential financial innovationsWelfare and excess volatility of exchange ratesIncome taxation when markets are incompleteTransaction costs and planner interventionIncomplete markets, allocative efficiency, and the information revealed by pricesVALUE OF INFORMATION IN COMPETITIVE ECONOMIES WITH INCOMPLETE MARKETSThe identification of preferences from equilibrium prices under uncertaintyThe taxation of trades in assetsExternalities, consumption constraints and regular economiesIncomplete markets and volatilityExcess demand functions when new assets are introducedConstrained suboptimality when prices are non-competitiveChanges in the firms behavior after the opening of markets of allowancesMore hedging instruments may destabilize marketsComplexity and financial stability in a large random economyInefficiency of equilibria with incomplete markets






This page was built for publication: Pareto improving financial innovation in incomplete markets