Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
957233 | Journal of Economic Theory | 2009 | 12 Pages |
Abstract
We demonstrate that information on the aggregate excess demand function of an incomplete real asset market economy is not helpful toward predicting the equilibrium of a new economy to which unredundant assets are added. An innovation of assets can completely change the aggregate excess demand functions.
Keywords
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Takeshi Momi,