Reporting on a fifteen year research program, Professor Gale makes extensive and rigorous use of dynamic matching and bargaining models to provide foundations for theory of general competitive equilibrium. Essential reading for graduate courses in game theory and general equilibrium

This paper analyzes the Asian crisis in the context of past and present financial crises to provide a model of asset price bubbles and ensuing crisis in developing and other economies. It is argued that financial structure matters for economic growth but is not that important for preventing...