MFPIM · Monetary and fiscal policy with incomplete markets

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Project objective

General equilibrium models become the standard tool for analyzing optimal monetary policy actions. The dominant modelling approach in the study of monetary economies has been to assume that markets are complete.Complete markets are an idealization that agents can trade all commodities on future states of the environment. The implications for authority policies are quite different in models with incomplete markets. We propose to develop a model able to capture these markets imperfections and be actually used by policy makers.

Original text from CORDIS.

Participants

• LONDON SCHOOL OF ECONOMICSCoordinatorCity levelUnited Kingdom

Links

• View on CORDIS