Competitive equilibrium allocations are indeterminate when the net trades in commodities are constrained, while the asset market is incomplete.Incomplete asset market, trading constraints, indeterminacy

Heracles M. Polemarchakis

P. Siconolfi

English

Research Papers in Economics

 
 
 
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PRICES, ASSET MARKETS AND INDETERMINACY 
 
H. Polemarchakis and P. Siconolfi 
 
November 1996 

Prices, Asset Markets and Indeterminacy

http://cowles.econ.yale.edu/P/cd/d11a/d1136.pdf

Prices, Asset Markets and Indeterminacy

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Research Papers in Economics