Welfare effects of financial innovation in incomplete markets economies with several consumption goods

DOI10.1006/jeth.1995.1002zbMath0824.90027OpenAlexW2003559357WikidataQ56814390 ScholiaQ56814390MaRDI QIDQ1804624

Ronel Elul

Publication date: 11 June 1995

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

Full work available at URL: https://doi.org/10.1006/jeth.1995.1002

zbMATH Keywords

financial innovationincomplete markets economiesseveral consumption goods

Mathematics Subject Classification ID

Trade models (91B60)

Related Items (18)

Welfare effects of short-sale constraints under heterogeneous beliefs ⋮ Financial intermediation and the welfare theorems in incomplete markets ⋮ A note on spanning with options ⋮ Financial innovation, precautionary saving and the risk-free rate ⋮ Strategic market games: an introduction. ⋮ Pareto improvement and agenda control of sequential financial innovations ⋮ Welfare and excess volatility of exchange rates ⋮ Income taxation when markets are incomplete ⋮ Transaction costs and planner intervention ⋮ Path-breaking contributions of K. J. Arrow ⋮ VALUE OF INFORMATION IN COMPETITIVE ECONOMIES WITH INCOMPLETE MARKETS ⋮ The completion of real-asset markets by options ⋮ The identification of preferences from equilibrium prices under uncertainty ⋮ The taxation of trades in assets ⋮ Excess demand functions when new assets are introduced ⋮ Changes in the firms behavior after the opening of markets of allowances ⋮ Optimal spreading when spreading is optimal ⋮ More hedging instruments may destabilize markets

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