FINANCIAL INNOVATION IN MULTI-PERIOD ECONOMIES

dc.creatorKAWAMURA,ENRIQUE
dc.date2003-08-01
dc.date.accessioned2017-03-07T15:15:27Z
dc.date.available2017-03-07T15:15:27Z
dc.identifierhttp://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0717-68212003012000001
dc.identifier.urihttp://repositorioslatinoamericanos.uchile.cl/handle/2250/381292
dc.descriptionI present an attempt to construct multi-period, finite horizon extensions to the well -known two- period financial innovations literature. I first extend the definition of competitive equilibrium with innovations. It is shown that, with a dominating household type, it is impossible to observe a set of complete Arrow securities with a positive amount issued for each of them in equilibrium, either at the last date or at any date
dc.formattext/html
dc.languageen
dc.publisherInstituto de Economía, Pontificia Universidad Católica de Chile
dc.sourceCuadernos de economía v.40 n.120 2003
dc.subjectIncomplete Markets
dc.subjectFinancial Innovation
dc.subjectMultiperiod Economies
dc.titleFINANCIAL INNOVATION IN MULTI-PERIOD ECONOMIES
dc.typeArtículos de revistas


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