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Financial Innovation in Multi-Period Economies

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  • Enrique Kawamura

Abstract

I present an attempt to construct multi-period, finite horizon extensions to the well -known two- period financial innovations literature. I first extend the definition of competitive equilibrium with innovations. It is shown that, with a dominating house

Suggested Citation

  • Enrique Kawamura, 2003. "Financial Innovation in Multi-Period Economies," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 40(120), pages 117-205.
    • Handle: RePEc:ioe:cuadec:v:40:y:2003:i:120:p:117-205
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    More about this item

    Keywords

    Incomplete markets; financial innovation; multiperiod economies;
    All these keywords.

    JEL classification:

    • D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
    • G13 - Financial Economics - - General Financial Markets - - - Contingent Pricing; Futures Pricing

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