SFB 303 Discussion Paper No. A - 387
Author: Rahi, Rohit
Title: Partially Revealing Rational Expectations Equilibria With Nominal Assets
Abstract: This paper studies a static exchange economy with nominal assets and a
finite state space. Agents have private information and learn from prices.
It is shown that any structure of information revealed by prices, that is
consistent with the absence of arbitrage, can be embedded in a rational
expectations equilibrium. This is in sharp contrast to the case of real
assets, in which prices are generically fully revealing.
JEL-Classification-Number: D51, D52, D82
Creation-Date: November 1992
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