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The New Palgrave Dictionary of Economics pp 5188–5194Cite as

Palgrave Macmillan

General Equilibrium with Incomplete Markets

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Abstract

An account is given of the principal concepts and results of general equilibrium with incomplete financial markets over a finite horizon, focusing on the generic existence, suboptimality and determinacy of equilibrium. Many results depend on the nature of the financial securities, whether they are real or nominal, nominal securities leading to the analysis of a class of monetary equilibrium models.

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Authors and Affiliations

  1. http://link.springer.com/referencework/10.1057/978-1-349-95121-5

    Michael Magill & Martine Quinzii

Authors
  1. Michael Magill
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  2. Martine Quinzii
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Magill, M., Quinzii, M. (2018). General Equilibrium with Incomplete Markets. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_2957

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