Balasko, Y. (2003) Temporary financial equilibrium. Economic Theory, 21 (1). pp. 1-18. ISSN 0938-2259
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Published Version: http://dx.doi.org/10.1007/s00199-002-0256-0
Abstract
In a two-period pure exchange economy with financial assets, a temporary financial equilibrium is an equilibrium of the current spot and security markets given forecast functions of future prices and payoffs. The temporary equilibrium model can then be interpreted as an Arrow-Debreu economy where preferences depend on prices. This identification implies, among other consequences, the existence and the generic determinateness of the financial temporary equilibria associated with given forecast functions.
| Item Type: | Article |
|---|---|
| Academic Units: | The University of York > Economics and Related Studies (York) |
| Depositing User: | York RAE Import |
| Date Deposited: | 05 Jun 2009 13:41 |
| Last Modified: | 05 Jun 2009 13:41 |
| Published Version: | http://dx.doi.org/10.1007/s00199-002-0256-0 |
| Status: | Published |
| Publisher: | Springer Science + Business Media |
| Identification Number: | 10.1007/s00199-002-0256-0 |
| URI: | http://eprints.whiterose.ac.uk/id/eprint/5995 |
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