Endowment redistribution and Pareto improvements in GEI economies

Concetta Mendolicchio and Tito Pietra

No 201601, IAB-Discussion Paper from Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany]

Abstract: "With incomplete markets and numeraire assets, there are open sets of economies such that their equilibrium allocations can be improved upon by a reallocation of period zero endowments. This strengthens the classical results on constrained Pareto inefficiency of equilibria in GEI." (Author's abstract, IAB-Doku) ((en))

Keywords: Einkommensverteilung; Gleichgewichtstheorie; Pareto, Vilfredo; Umverteilung; Vermögensverteilung; Verteilungspolitik; Verteilungstheorie; Volkswirtschaftstheorie (search for similar items in EconPapers)
JEL-codes: D51 D52 (search for similar items in EconPapers)
Pages: 19 pages
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Published in/as: Journal of Mathematical Economics, (2016), o. Sz., doi:10.1016/j.jmateco.2016.08.006

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Persistent link: https://EconPapers.repec.org/RePEc:iab:iabdpa:201601

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