Prices, Asset Markets and Indeterminacy

Heracles M. Polemarchakis and P. Siconolfi
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Heracles M. Polemarchakis: CORE, Universite Catholique de Louvain
P. Siconolfi: Columbia University

No 1136, Cowles Foundation Discussion Papers from Cowles Foundation for Research in Economics, Yale University

Abstract: Competitive equilibrium allocations are indeterminate when the net trades in commodities are constrained, while the asset market is incomplete.

Keywords: Incomplete asset market; trading constraints; indeterminacy (search for similar items in EconPapers)
JEL-codes: D50 D52 (search for similar items in EconPapers)
Pages: 18 pages
Date: 1996-11
Note: CFP 970.
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Published in Journal of Economic Theory (1998), 82(1): 46-64

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Related works:
Journal Article: Prices, Asset Markets and Indeterminacy (1998)
Working Paper: Prices, Asset Markets and Indeterminacy (1994)
Working Paper: Prices, asset markets and indeterminacy
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