Numeraire Assets

Antonio Villanacci, Laura Carosi, Pierluigi Benevieri and Andrea Battinelli
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Antonio Villanacci: Università degli Studi di Firenze
Laura Carosi: Università degli Studi di Pisa
Pierluigi Benevieri: Università degli Studi di Firenze
Andrea Battinelli: Università degli Studi di Siena

Chapter Chapter 11 in Differential Topology and General Equilibrium with Complete and Incomplete Markets, 2002, pp 307-326 from Springer

Abstract: Abstract In this chapter, we describe the main results about the model with incomplete financial markets and numeraire assets. That model has been analyzed by [61] and it is the closest one to the exchange economy one in terms of basic results: both existence and generic regularity hold true. Therefore, it is the easiest to be studied and the most appropriate to start the analysis on incomplete markets.

Keywords: Budget Constraint; General Equilibrium; Full Rank; Commodity Price; Incomplete Market (search for similar items in EconPapers)
Date: 2002
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-1-4757-3619-9_11

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DOI: 10.1007/978-1-4757-3619-9_11

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