The three volumes of the "Collected Scientific Works of David Cass"
are ordered chronologically, which happens to coincide with the
development of the three major advances in Cass' research agenda,
the development of the neoclassical growth model, the discovery of
sunspot equilibria, and the analysis of models of market
incompleteness. This volume covers the period from the middle
1980's through the end of Cass' life in 2008. Cass' research during
this period included definitive papers showing that competitive
equilibrium is generically indeterminate when markets are
incomplete, and on the relationship between market incompleteness
and the existence of sunspot equilibrium. This period also saw the
follow-on papers addressing the issue of how financial innovation
affects economic welfare, showing in particular that innovation can
lead to welfare losses as well as gains, depending on the nature of
the innovation.
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