Please use this identifier to cite or link to this item: https://doi.org/10.1016/j.jmateco.2006.05.003
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dc.titleStabilizing sunspots
dc.contributor.authorGoenka, A.
dc.contributor.authorPrechac, C.
dc.date.accessioned2011-02-24T06:55:19Z
dc.date.available2011-02-24T06:55:19Z
dc.date.issued2006
dc.identifier.citationGoenka, A., Prechac, C. (2006). Stabilizing sunspots. Journal of Mathematical Economics 42 (4-5 SPEC. ISS.) : 544-555. ScholarBank@NUS Repository. https://doi.org/10.1016/j.jmateco.2006.05.003
dc.identifier.issn03044068
dc.identifier.urihttp://scholarbank.nus.edu.sg/handle/10635/19991
dc.description.abstractThis paper analyzes stabilization of sunspot equilibria in an incomplete financial market framework. Indexation of nominal bonds or introduction of real securities can eliminate the sunspot equilibria. However, we show that the utility of one type of consumer may be minimized at a Walrasian allocation relative to other sunspot equilibrium allocations. Thus, if considering stabilization policies from the status quo of incomplete financial markets, there may be no consensus on implementing them.©2006 Elsevier B.V. All rights reserved.
dc.description.urihttp://libproxy1.nus.edu.sg/login?url=http://dx.doi.org/10.1016/j.jmateco.2006.05.003
dc.sourceScopus
dc.subjectIncomplete markets
dc.subjectStabilization policy
dc.subjectSunspot equilibrium
dc.subjectWelfare analysis
dc.typeArticle
dc.contributor.departmentECONOMICS
dc.description.doi10.1016/j.jmateco.2006.05.003
dc.description.sourcetitleJournal of Mathematical Economics
dc.description.volume42
dc.description.issue4-5 SPEC. ISS.
dc.description.page544-555
dc.description.codenJMECD
dc.identifier.isiut000240565200010
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