general equilibrium with incomplete markets

Michael Magill and Martine Quinzii

from Palgrave Macmillan

Abstract: 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.

Keywords: Arrow; K.; determinacy of equilibrium; general equilibrium; incomplete financial markets; spot-financial market equilibrium (search for similar items in EconPapers)
JEL-codes: D52 D53 E44 E52 G12 (search for similar items in EconPapers)
Date: 2010
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