Does Market Incompleteness Matter?
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Publication:5475009
DOI10.1111/1468-0262.00354zbMath1141.91385OpenAlexW2114709267MaRDI QIDQ5475009
William R. Zame, David K. Levine
Publication date: 16 June 2006
Published in: Econometrica (Search for Journal in Brave)
Full work available at URL: http://www.dklevine.com/papers/nether.pdf
Related Items (8)
When is market incompleteness irrelevant for the price of aggregate risk (and when is it not)? ⋮ Consumption dynamics in general equilibrium: a characterisation when markets are incomplete ⋮ Equilibrium in securities markets with heterogeneous investors and unspanned income risk ⋮ Endogenous debt constraints in collateralized economies with default penalties ⋮ Testable implications of consumption-based asset pricing models with incomplete markets. ⋮ Self-insurance vs. self-financing: a welfare analysis of the persistence of shocks ⋮ Incomplete markets and volatility ⋮ More hedging instruments may destabilize markets
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