This note shows that if the space of events is sufficiently rich and the subjective probability function of each individual is non-atomic, then there is a sigma-algebra of events over which everyone will have the same probability function, and moreover, the range of these probabilities is the...

The second welfare theorem and the core-equivalence theorem have been proved to be fundamental tools for obtaining equilibrium existence theorems, especially in an infinite dimensional setting. For well-behaved exchange economies that we call proper economies, this paper gives (minimal)...

Models of monetary economies with explicit micro-foundations play a central role in macroeconomics. A common assumption is the quasi-linearity of individuals' preferences. Moreover, anonymity rules out credit and implies that individuals are constrained in their ability to save and borrow. These...

This thesis includes three essays analyzing the role of government interventions in anchoring inflation in an extremely open small economy, Taiwan, whose monetary authority has been frequently using large-size interventions since the 1985 Plaza Agreement. Taiwan's relative success in controlling...

The purpose of this thesis, as implied by its title, is essentially two-fold. The first goal is to introduce and study the notion of properness, as well as some other concepts related to it. The importance of this property lies in the fact that in the infinite-dimensional case it effectively...

This dissertation provides theoretical underpinnings for exogenous matching frameworks. The ultimate goal is to improve our understanding of economies whose functioning is impaired by frictions of spatial, informational or institutional nature. Indeed, there is a well established research...

We study an infinite-horizon economy with two basic frictions that are typical in monetary models. First, agents' trading paths cross at most once due to pairwise trade and other meeting obstacles. Second, actions must be compatible with individual incentives due to commitment and enforcement...