Arbeitspapier
Pareto improving monetary policy in incomplete markets
We show that for generic economies, every equilibrium admits Pareto improving monetary policy, even with multiple commodities per state. The main assumption is that asset incompleteness be intermediate, in that household heterogeneity does not exceed the number of assets present and absent. We argue this as a special case of the general framework in Turner (2003b) for proving the generic existence of Pareto improving taxes.
- Sprache
-
Englisch
- Erschienen in
-
Series: Working Paper ; No. 2006-04
- Klassifikation
-
Wirtschaft
Incomplete Markets
Allocative Efficiency; Cost-Benefit Analysis
Monetary Policy
- Thema
-
Pareto improvement
Slutsky
monetary
incomplete
generic
Geldpolitik
Unvollkommener Markt
Mikroökonomische Konsumfunktion
Slutsky Gleichung
Pareto-Optimum
Theorie
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Turner, Sergio
Tumennasan, Norovsambuu
- Ereignis
-
Veröffentlichung
- (wer)
-
Brown University, Department of Economics
- (wo)
-
Providence, RI
- (wann)
-
2006
- Handle
- Letzte Aktualisierung
-
20.09.2024, 08:23 MESZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Turner, Sergio
- Tumennasan, Norovsambuu
- Brown University, Department of Economics
Entstanden
- 2006
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