Sunspots and incomplete financial markets: The general case

DOI10.1007/BF01211421zbMath0809.90008MaRDI QIDQ1339015

David Cass

Publication date: 27 November 1994

Published in: Economic Theory (Search for Journal in Brave)

zbMATH Keywords

extrinsic uncertaintyincomplete financial marketstwo-period, pure- exchange model

Mathematics Subject Classification ID

General equilibrium theory (91B50)

Related Items (11)

Taxes and money in incomplete financial markets ⋮ Sunspots and the sequential regularity of competitive equilibria ⋮ Pareto improving interventions in a general equilibrium model with private provision of public goods ⋮ A note on the regularity of competitive equilibria and asset structures. ⋮ Welfare and excess volatility of exchange rates ⋮ Evidence of a worldwide stock market log-periodic anti-bubble since mid-2000 ⋮ The relation between sunspot effects and multiplicity in incomplete markets models with numeraire assets ⋮ Price-level volatility and welfare in incomplete markets with sunspots ⋮ Arbitrage and equilibrium with portfolio constraints ⋮ General equilibrium with endogenously incomplete financial markets ⋮ Money taxes and efficiency when sunspots matter

Cites Work

• Real indeterminacy with financial assets
• Sunspot equilibria and incomplete financial markets
• Real indeterminacy in incomplete financial market economies without aggregate risk
• Real indeterminacy of equilibria in a sunspot economy with inside money
• Market Participation and Sunspot Equilibria
• Economies with a Finite Set of Equilibria
• The Structure of Financial Equilibrium with Exogenous Yields: The Case of Incomplete Markets

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