Indetermination reelle en marches complets: le cas des economies statiques et sequentielles

J.-B. Ferrari

G.R.E.Q.A.M. from Universite Aix-Marseille III

Abstract: In the static and sequntial economies, where the available assets are "Arrow securities" the inflation is without effect of the equilibrium allocations, when the initial endowments of securities are zero. The indeterminacy is only nominal. The same equilibrium allocations can be obtained with various prices. On the other hand, if the individuals are initially creditors or debitors according to the realization of event the indeterminacy is real too.

Keywords: WEALTH (search for similar items in EconPapers)
JEL-codes: D50 (search for similar items in EconPapers)
Pages: 21 pages
Date: 1998
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Persistent link: https://EconPapers.repec.org/RePEc:fth:aixmeq:98a11

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