Full and constrained Pareto efficiency with incomplete financial markets
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DOI: 10.1007/s00199-019-01239-y
Abstract: We study the efficiency properties of equilibria in general equilibrium economies with incomplete financial markets. We focus the analysis on economies with a finitely large number of agents and initial endowments close to a Pareto… read more here.
Keywords: pareto optimal; equilibrium; financial markets; constrained pareto ... See more keywords
Incomplete financial markets model with nominal assets: Variational approach
Sign Up to like & getrecommendations! Published in 2018 at "Journal of Mathematical Analysis and Applications"
DOI: 10.1016/j.jmaa.2017.03.051
Abstract: Abstract We deal with the analysis of the general equilibrium model with incomplete financial markets and nominal assets. We assume that there are 2 periods of time, say today and tomorrow. We define a consumption,… read more here.
Keywords: nominal assets; analysis; variational approach; approach ... See more keywords