Constrained suboptimality in incomplete markets: A general approach and two applications
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Publication:1389233
DOI10.1007/s001990050199zbMath0901.90027OpenAlexW1987834580MaRDI QIDQ1389233
Alessandro Citanna, Antonio Villanacci, Atsushi Kajii
Publication date: 11 June 1998
Published in: Economic Theory (Search for Journal in Brave)
Full work available at URL: https://doi.org/10.1007/s001990050199
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Time-inconsistent preferences in a general equilibrium model ⋮ Endowment redistribution and Pareto improvements in GEI economies ⋮ Taxes and money in incomplete financial markets ⋮ Risk externalities: when financial imperfections are not the problem, but part of the solution ⋮ Risk sharing and retrading in incomplete markets ⋮ Pareto improving interventions in a general equilibrium model with private provision of public goods ⋮ Subscription equilibrium with production: non-neutrality and constrained suboptimality ⋮ Efficiency and imperfect competition with incomplete markets. ⋮ Core concepts for incomplete market economies ⋮ Idiosyncratic risk and financial policy ⋮ A note on the regularity of competitive equilibria and asset structures. ⋮ Markets and contracts ⋮ Welfare and excess volatility of exchange rates ⋮ Income taxation when markets are incomplete ⋮ Transaction costs and planner intervention ⋮ Pareto improving taxes ⋮ Incomplete markets, allocative efficiency, and the information revealed by prices ⋮ A re-examination of constrained Pareto inefficiency in economies with incomplete markets ⋮ Identification of Pareto-improving policies: Information as the real invisible hand ⋮ VALUE OF INFORMATION IN COMPETITIVE ECONOMIES WITH INCOMPLETE MARKETS ⋮ Constrained inefficiency in GEI: A geometric argument ⋮ On the regularity of smooth production economies with externalities: competitive equilibrium à la Nash ⋮ Price-level volatility and welfare in incomplete markets with sunspots ⋮ The taxation of trades in assets ⋮ Externalities, consumption constraints and regular economies ⋮ Constrained suboptimality when prices are non-competitive ⋮ General consumption constraints and regular economies ⋮ Overlapping generations and idiosyncratic risk: Can prices reveal the best policy? ⋮ Full and constrained Pareto efficiency with incomplete financial markets ⋮ Competitive equilibrium with moral hazard in economies with multiple commodities.
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