Excess demand functions when new assets are introduced |
| |
Authors: | Takeshi Momi |
| |
Affiliation: | Department of Economics, Doshisha University, Genbu-cho 601, Kamigyo-ku, Kyoto 602-8580, Japan |
| |
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: | D52 C62 |
本文献已被 ScienceDirect 等数据库收录! |
|