Profile Major Works Resources

Douglas Gale,  1950-

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Canadian general equilibrium theorist and finance economist. 

Douglas Gale obtained his Ph.D. at the University of Cambridge in 1975 under Frank H. Hahn, and stayed on as a fellow at Churchill College for a spell, before moving on to the LSE.  He wrote two celebrated books on money in general equilibrium theory in 1982-83.

In the mid-1980s, Gale moved to the United States, to take up a position at the University of Pennsylvania, and then after a stint at Boston in the 1990s, moved to New York University in 1996.  Gale has been a pioneering researcher in the field of market microstructures and financial innovation and contagion.

 

  


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Major Works of Douglas Gale

  • "A Note on Conjectural Equilibria,", 1978, RES
  • "The Core of a Monetary Economy without Trust", 1978, JET
  • "Large Economies with Trading Uncertainty," 1979, RES
  • "Money, Information and Equilibrium," 1980, JET
  • "Improving Coalitions in a Monetary Economy," 1981, RES
  • Money in Equilibrium, 1982
  • Money in Disequilibrium, 1983.
  • "Competitive Models with Keynesian Features," 1983, EJ
  • "Incentive-Compatible Debt Contracts: The One-Period Problem", with M. Hellwig, 1985, RES
  • "Bargaining and Competition, Part I: Characterization," 1986, Econometrica
  • "Bargaining and Competition, Part II: Existence," 1986, Econometrica
  • "Limit Theorems for Markets with Sequential Bargaining," 1987, JET
  • "Price Setting and Competition in a Simple Duopoly Model," 1988, QJE.
  • "Optimal Security Design," with F. Allen, 1988, Rev Financial Studies
  • "Repudiation and Renegotiation: The Case of Sovereign Debt," with M. Hellwig, 1989,  IER
  • "The Efficient Design of Public Debt," 1990, in Draghi and Dornbusch,editors, Public Debt Management
  • "Underinvestment and the Demand for Liquid Assets," 1990, in McKenzie and Zamagni, editors, Value and Capital: 50 Years After.
  • ""Incomplete Markets and the Incentives to Set up an Options Exchange," with F. Allen, 1990, Geneva Papers on Risk and Insurance Theory
  • "Arbitrage, Short Sales and Financial Innovation" with F. Allen, 1991, Econometrica
  • "Incomplete Mechanisms and Efficient Allocation in Labor Markets", 1991, RES
  • "Optimal Risk-Sharing through Renegotiation of Simple Contracts," 1991, J of Financial Intermediation
  • "Standard Securities,"  1992, RES
  • "Measurement Distortion and Missing Contingencies in Optimal Contracts," with F. Allen, 1992, Econ Theory
  • "Informational Efficiency of Search Equilibrium," 1992, in P. Dasgupta et al., editors, Economic Analysis of
    Markets and Games
  • "A Walrasian Theory of Markets with Adverse Selection", 1992, RES
  • "Stock Price Manipulation," with F. Allen, 1992, Rev Financial Studies
  • Financial Innovation and Risk Sharing, 1994.
  • "Liquidity Preference, Market Participation and Asset Price Volatility", with F. Allen, 1994, AER
  • "Information Revelation and Strategic Delay in a Model of Investment", with C. Chamley, 1994, Econometrica
  • "Dynamic Coordination Games", Econ Theory, 1995
  • "Delay and Cycles", 1996, RES
  • "Equilibria and Pareto Optima of Markets with Adverse Selection", 1996, Econ Theory
  • "Financial Markets, Financial Intermediaries and Intertemporal Smoothing", 1997, JPE
  • "Optimal Financial Crises," with F. Allen, 1998, J of Finance
  • Comparing Financial Systems with F. Allen, 1999.
  • Strategic Foundations of General Equilibrium: Dynamic Matching and Bargaining Games , 1999
  • "Diversity of Information and the Financing of New Technology", 1999
  • "Bubbles and Crises," with F. Allen, 1999
  • "Financial Contagion" with F. Allen, 1999
  • "Corporate Governance and Competition" with F. Allen, 1999.
  • "Experimentation, Imitation, and Strategic Stability," with R. Rosenthal, 1999
  • "Monotone Games", 1999
  • "Signalling in Markets with Two-Sided Adverse Selection ", 1999.
  • "Bubbles, Crises and Policy", 1999

HET
  • HET Pages: Financial Innovation

 

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Resources on Douglas Gale

 

 
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