general equilibrium with incomplete markets

An account is given of the principal concepts and results of general equilibrium with incomplete financial markets over a finite horizon, focusing on the generic existence, suboptimality and determinacy of equilibrium. Many results depend on the nature of the financial securities, whether they are real or nominal, nominal securities leading to the analysis of a class of monetary equilibrium models.

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Authors:	Magill, Michael ; Quinzii, Martine
Other Persons:	Durlauf, Steven N. (contributor) ; Blume, Lawrence E. (contributor)
Institutions:	Palgrave Macmillan
Subject:	Arrow \| K. \| determinacy of equilibrium \| general equilibrium \| incomplete financial markets \| spot-financial market equilibrium

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Extent:	text/html
Series:	The New Palgrave Dictionary of Economics.
Type of publication:	Article
Classification:	D52 - Incomplete Markets ; D53 - Financial Markets ; E44 - Financial Markets and the Macroeconomy ; E52 - Monetary Policy (Targets, Instruments, and Effects) ; G12 - Asset Pricing
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10009395624