Publications

Articles

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

On the Efficiency of Nominal GDP Targeting in a Large Open Economy.
On the Efficiency of Nominal GDP Targeting in a Large Open Economy.

joint with Udara Peiris.
Please cite as:
Hoelle, M., Peiris, M.U. (2013): "On the efficiency of nominal GDP targeting in a large open economy," Krannert Working Paper Series, Paper No. 1273.

International Monetary Policy: Coordinated Action.
Indeterminacy and Asset Price Volatility in Stochastic Overlapping Generations Models.
Indeterminacy and Asset Price Volatility in Stochastic Overlapping Generations Models.

joint with Zhigang Feng.
Please cite as: Feng, Z., Hoelle, M. (2013): "Indeterminacy and asset price volatility in stochastic overlapping generations models," Krannert Working Paper Series, Paper No. 1272.

Incomplete Markets as the Outcome of Bilateral Bargaining.

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

joint with Marina Pireddu and Antonio Villanacci.
Please cite as: Hoelle, M., M. Pireddu, and A. Villanacci (2012): "Incomplete financial markets with real assets and wealth-dependent credit limits," Krannert Working Paper Series, Paper No. 1271.

The Existence of Sunspot Equilibria in a Dynamic Financial Model with Numeraire Assets: Is Multiplicity Necessary?
The Existence of Sunspot Equilibria in a Dynamic Financial Model with Numeraire Assets: Is Multiplicity Necessary?

Previously circulated as a working paper titled "Sunspots and Multiplicity."
Please cite as: Hoelle, M. (2011): Sunspots and multiplicity, EUI Working Paper Series, Report no. MWP 2011/09.