Constrained suboptimality and financial innovation in GEI with a single commodity

Tirelli, Mario
(2000)

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  • Tirelli, Mario
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Abstract
In this paper we exploit global analysis to explore welfare properties of a standard one-commodity GEI, under different notions of constrained Pareto optimality. In a unifying framework we revise and extend some of the leading results of the literature on incomplete markets and government intervention, including those concerning financial innovation.
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Tirelli, M. (2000). Constrained suboptimality and financial innovation in GEI with a single commodity (CORE Discussion Papers 2000/19). https://hdl.handle.net/2078.5/77131