Balasko, Y. (2003) Temporary financial equilibrium. Economic Theory, 21 (1). pp. 1-18. ISSN 0938-2259
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.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Dates: |
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Institution: | The University of York |
Academic Units: | The University of York > Faculty of Social Sciences (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 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:5995 |
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