Publications

Articles

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

Quantitative Easing under Incomplete Markets: Optimality Conditions for Stationary Policy.
Quantitative Easing under Incomplete Markets: Optimality Conditions for Stationary Policy.

Please cite as:
Hoelle, M. (2014): "Quantitative easing under incomplete markets: Optimality conditions for stationary policy," Krannert Working Paper Series, Paper No. 1277.

Incomplete Markets as the Outcome of Bilateral Bargaining.

Revise and resubmit at Journal of Economic Theory.

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.

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.

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.