Incomplete markets and the output-inflation tradeoff

DOI10.1007/S00199-009-0499-0zbMath1203.91185OpenAlexW2011209138MaRDI QIDQ617345

Xavier Ragot, Yann Algan, Edouard Challe

Publication date: 21 January 2011

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

Full work available at URL: https://doi.org/10.1007/s00199-009-0499-0

zbMATH Keywords

incomplete marketsborrowing constraintsshort-run non-neutrality

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64) Microeconomic theory (price theory and economic markets) (91B24)

Related Items (7)

Incomplete markets and derivative assets ⋮ The redistributive effects of inflation and the shape of money demand ⋮ Optimal monetary policy with heterogeneous money holdings ⋮ A tractable model of monetary exchange with ex post heterogeneity ⋮ Elementary results on solutions to the Bellman equation of dynamic programming: existence, uniqueness, and convergence ⋮ Bequests, estate taxes, and wealth distributions ⋮ A Becker-Tomes model with investment risk

Uses Software

• Uhlig Toolkit

Cites Work

• Asset trading mechanisms and expansionary policy
• The welfare cost of inflation under imperfect insurance
• A rudimentary random-matching model with divisible money and prices
• A Difficulty with the Optimum Quantity of Money
• Borrowing Constraints and Aggregate Economic Activity
• Liquidity Constrained Markets Versus Debt Constrained Markets

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