Excess Demand Functions with Incomplete Markets - A Global Result

Preprint
Publisher Website
Google Scholar
    • preprint
      • Published in RePEc
Abstract
The purpose of this paper is to give a global characterization of excess demand functions in a two period exchange economy with incomplete real asset markets. We show that continuity, homogeneity and Walras� law characterize the aggregate excess demand functions on any compact price set which maintains the dimension of the budget set.
All Related Versions

This publication has 0 references indexed in Scilit: