Publications

Articles

Optimal Term Structure in a Monetary Economy with Incomplete Markets.
Optimal Term Structure in a Monetary Economy with Incomplete Markets.

Hoelle, M. (forthcoming): Optimal term structure in a monetary economy with incomplete markets, The B.E. Journal of Theoretical Economics, DOI: 10.1515/bejte-2016-0158.

Stationary Inflation and Pareto Efficiency with Incomplete Markets and a Large Open Economy.
Stationary Inflation and Pareto Efficiency with Incomplete Markets and a Large Open Economy.

Hoelle, M. (forthcoming): Stationary inflation and Pareto efficiency with incomplete markets and a large open economy, Economic Theory Bulletin, DOI: 10.1007/s40505-017-0128-1.

The Effects of Dependent Beliefs on Endogenous Leverage.
The Effects of Dependent Beliefs on Endogenous Leverage.

Hoelle, M. (2017): The effects of dependent beliefs on endogenous leverage, Journal of Mathematical Economics 73, 68-80.

Indeterminacy in Stochastic Overlapping Generations Models: Real Effects in the Long Run.
Indeterminacy in Stochastic Overlapping Generations Models: Real Effects in the Long Run.

Feng, Z., and M. Hoelle (2017): Indeterminacy in stochastic overlapping generations models: real effects in the long run, Economic Theory 63(2), 559-585.

Incomplete Financial Markets with Real Assets and Wealth-Dependent Credit Limits.
Incomplete Financial Markets with Real Assets and Wealth-Dependent Credit Limits.

Hoelle, M., M. Pireddu, and A. Villanacci (2016): Incomplete financial markets with real assets and wealth-dependent credit limits, Journal of Economics 117(1), 1-36.

On the Pareto Efficiency of Term Structure Targeting Policies.
On the Pareto Efficiency of Term Structure Targeting Policies.

Hoelle, M. (2015): On the Pareto efficiency of term structure targeting policies, Mathematical Social Sciences 77, 62-69.

The Relation between Sunspot Effects and Multiplicity in Incomplete Markets Models with Numeraire Assets.
The Relation between Sunspot Effects and Multiplicity in Incomplete Markets Models with Numeraire Assets.

Hoelle, M. (2014): The relation between sunspot effects and multiplicity in incomplete markets models with numeraire assets, Journal of Mathematical Economics 50, 119-127.

Transaction Costs and Planner Intervention.
Transaction Costs and Planner Intervention.

Hoelle, M. (2012): Transaction costs and planner intervention, Economic Theory 50(3), 603-634.

Web publications

Bankruptcy and Transaction Costs in General Financial Models.
Bankruptcy and Transaction Costs in General Financial Models.

Hoelle, M. (2010): Bankruptcy and Transaction Costs in General Financial Models, Publicly accessible Penn Dissertations, Paper 119.

Working papers