FINANCIAL INNOVATION IN MULTI-PERIOD ECONOMIES
نویسندگان
چکیده
منابع مشابه
Complete and incomplete financial markets in multi-good economies
In several multi-good models in the literature we see in equilibrium that the span of the stocks drop relative to the span of the dividends, which is not a desirable feature. Therefore, in this paper, we investigate conditions for endogenous completeness and incompleteness in continuous-time financial markets driven by diffusion processes with multiple consumption goods and heterogeneous agents...
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ژورنال
عنوان ژورنال: Cuadernos de economía
سال: 2003
ISSN: 0717-6821
DOI: 10.4067/s0717-68212003012000001