• 연구실 :
• 연구실 전화 :
• 이메일 :
• 연구관심분야 : General equilibrium, financial innovation, asset pricing and poverty in incomplete markets
• 홈페이지 : https://scholar.google.com/citations?user=6fPRc2AAAAAJ&hl=ko&oi=ao

2016.9 : Visiting Professor, Institute of Economic Research, Seoul National University
2008.8 : Visiting Professor, Dept. of Economics, University of California, Davis
2004.6 : Visiting Professor, Dept. of Economics, University of Illinois, Urbana-Champagne.
2002.2 : Visiting Professor, Dept. of Economics, University of Illinois, Urbana-Champagne.

Uniqueness of Competitive Equilibrium

Poverty Restrictions on Competitive Equilibrium

Finance: equilibrium asset pricing, interest rate models, Malliavin Calculus for derivative pricing

1. [논문] 원동철, A new approach to the uniqueness of equilibrium with CRRA preferences , JOURNAL OF ECONOMIC THEORY , Vol.208 , pp.1 -26 (Jan, 2023)
2. [논문] 원동철, One-fund separation in incomplete markets with two assets , FINANCE RESEARCH LETTERS , pp.1 -7 (Nov, 2017)
3. [논문] 원동철, A New Characterization of Equilibrium in a Multi-period Finance Economy: A Computational Viewpoint , COMPUTATIONAL ECONOMICS , pp.1 -30 (Oct, 2017)
4. [논문] 원동철, Nicholas Yannelis, Equilibrium theory with satiable and non-ordered preferences , JOURNAL OF MATHEMATICAL ECONOMICS , Vol.2 , pp.245 -250 (Mar, 2011)
5. [논문] 원동철, Nicholas Yannelis, Equilibrium Theory with Unbounded Consumption Sets and Non-Ordered Preferences, Part I , Journal of Mathematical Economics , Vol.44 , No.11 , pp.1268 -1283 (Nov, 2008)

1. [논문] 원동철, A new approach to the uniqueness of equilibrium with CRRA preferences , JOURNAL OF ECONOMIC THEORY , Vol.208 , pp.1 -26 (Jan, 2023)
2. [논문] 한광석, 원동철, Equilibrium in Constrained Financial Markets , Journal of Economic Theory and Econometrics , Vol.31 , No.4 , pp.1 -40 (Dec, 2020)
3. [논문] 원동철, On the Micro-Level Irrelevance of Habit Formation in Complete Markets , Journal of Economic Theory and Econometrics , Vol.2 , pp.1 -19 (Jun, 2019)
4. [논문] 원동철, One-fund separation in incomplete markets with two assets , FINANCE RESEARCH LETTERS , pp.1 -7 (Nov, 2017)
5. [논문] 원동철, One-Fund Separation and Uniqueness of Equilibrium in Incomplete Markets with Heterogeneous Beliefs , Seoul Journal of Economics , Vol.30 , No.4 , pp.471 -486 (Nov, 2017)
6. [논문] 원동철, A New Characterization of Equilibrium in a Multi-period Finance Economy: A Computational Viewpoint , COMPUTATIONAL ECONOMICS , pp.1 -30 (Oct, 2017)
7. [논문] 원동철, A New Approach to Computing Equilibrium in Incomplete Markets , Journal of Economic Theory and Econometrics , Vol.28 , No.3 , pp.1 -21 (Sep, 2017)
8. [논문] 원동철, Nicholas Yannelis, Equilibrium theory with satiable and non-ordered preferences , JOURNAL OF MATHEMATICAL ECONOMICS , Vol.2 , pp.245 -250 (Mar, 2011)
9. [논문] 이영훈, 원동철, Optimal Dynamic Pricing for Sports Games with Habitual Attendance , Managerial and Decision Economics (Wiley Interscience) , Vol.29 , No.8 , pp.639 -655 (Dec, 2008)
10. [논문] 원동철, Nicholas Yannelis, Equilibrium Theory with Unbounded Consumption Sets and Non-Ordered Preferences, Part I , Journal of Mathematical Economics , Vol.44 , No.11 , pp.1268 -1283 (Nov, 2008)
11. [논문] 원동철, Nicholas Yannelis, 한광석, Capital Market Equilibrium without Riskless Assets: Heterogeneous Expectations , Annals of Finance (Elsevier) , Vol.4 , No.2 , pp.183 -195 (Mar, 2008)

1. [논문] 원동철, A Characterization of Equilibrium in Incomplete Markets with Real Assets , 계량경제학보 , Vol.27 , No.2 , pp.39 -62 (Jun, 2016)
2. [논문] 한광석, 원동철, 권준엽, The Effects of Strategic Delegation on Price Competition with Product Compatibility and Network Externalities , KOREA AND THE WORLD ECONOMY , Vol.16 , No.1 , pp.25 -42 (Apr, 2015)
3. [논문] 한광석, 원동철, A New Survival Condition for Equilibrium with Financial Derivatives in Constrained Asset Markets , 경제연구 , Vol.31 , No.2 , pp.131 -153 (May, 2013)
4. [논문] 한광석, 원동철, Survival, Arbitrage, and Equilibrium with Financial Derivatives in Constrained Asset Markets , Seoul Journal of Economics , Vol.25 , No.4 , pp.441 -461 (Nov, 2012)
5. [논문] 한광석, 원동철, A Note on Equilibrium in Constrained Incomplete Markets with Non-Ordered Preferences , 계량경제학보 , Vol.22 , No.1 , pp.58 -72 (Mar, 2011)
6. [논문] 원동철, 한광석, Satiation and Equilibrium in Unbounded Exchange Economies , The Korean Economic Review , Vol.25 , No.2 , pp.349 -366 (Dec, 2009)
7. [논문] 원동철, Dynamic Arbitrage Pricing with Progressive Taxation , 한국경제통상학회 , Vol.27 , No.3 , pp.257 -272 (Sep, 2009)
8. [논문] 원동철, 한광석, Incomplete Markets with Cone Constraints , 계량경제학보 , Vol.19 , No.2 , pp.59 -76 (Jun, 2008)
9. [논문] 원동철, 한광석, Equilibrium in Financial Markets with Market Frictions , The Korean Economic Review , Vol.23 , No.2 , pp.267 -302 (Dec, 2007)
10. [논문] 원동철, Dynamic Arbitrage Pricing with Non-Proportional Transaction Costs and Taxes , 대한경영학회지 , Vol.20 , No.3 , pp.1361 -1382 (Jun, 2007)
11. [논문] 원동철, The Fundamental Theorem of Asset Pricing with Convex Transaction Costs , 계량경제학보 , Vol.17 , No.2 , pp.21 -53 (Jun, 2006)
12. [논문] 원동철, 한광석, Competitive Equilibrium with Short-Selling and Nontransitive Preferences , 한국경제학회 , Vol.22 , No.1 , pp.55 -67 (Jun, 2006)
13. [논문] 원동철, 최종범, 자본자산가격결정모형(CAPM)의 시장균형: 이질적 기대 , 증권학회지 , Vol.35 , No.1 , pp.41 -67 (Mar, 2006)

1. [학술회의] 원동철, Limited Leverage and Nominal Debt Accounting in Dynamic Equilibrium , EEA & ESEM 2018 (Aug, 2018)
2. [학술회의] 원동철, Equilibrium with Limited Leverage: The Real Effect of Nominal Debt Accounting , SWUFE 2018 (Jul, 2018)
3. [학술회의] 원동철, Dynamic Equilibrium with Discretionary Credit Limits , AMES 2016 (Aug, 2016)
4. [학술회의] 원동철, A new approach to computing equilibria in incomplete asset markets , EWGET 2014 (Jun, 2014)
5. [학술회의] 원동철, 한광석, Robust Survival and Equilibrium in Incomplete Markets , AMES 2013 , pp.1 -2 (Aug, 2013)
6. [학술회의] 한광석, 원동철, Survival Assumptions for Competitive Equilibrium in Constrained Asset Markets , 12th SAET Conference (Jul, 2012)
7. [학술회의] 원동철, 한광석, Survival in Equilibrium with Other-Than-Me Welfare , International Research Forum- Models, Methods and Transfer , pp.117 -117 (Dec, 2010)
8. [학술회의] 원동철, Dynamic Arbitrage Pricing with Return-Related Market Frictions , Economic Theory (Jun, 2009)
9. [학술회의] 원동철, Guangsug Hahn, Constrained Asset Markets , IV Asian General Equilibrium Theory Workshop, GETA 2007 , Vol.2007 , No.1 , pp.1 -1 (Aug, 2007)
10. [학술회의] 원동철, Guangsug Hahn, Constrained Asset Markets , The 8th SAET Conference , Vol.1 , No.1 , pp.1 -1 (Jun, 2007)
11. [학술회의] 원동철, 이영훈, optimal stadium size with habitual attendance at sports games , International 80th Annual Conference , Vol.1 , No.1 , pp.1 -20 (Jul, 2005)

1. [학술회의] 원동철, 한광석, A New Survival Assumption for Equilibrium in Incomplete Markets: Implications to Poverty and Financial Innovation , 글로벌 금융학회 , pp.1 -4 (Dec, 2013)
2. [학술회의] 원동철, Dynamic Arbitrage Pricing with Return-Related Market Frictions , 재무금융관련 5개학회 학술연구발표회 , Vol.1 , No.1 , pp.9 -9 (May, 2009)
3. [학술회의] 원동철, N. Yannelis, 한광석, Asset Market Equilibrium without Riskless Assets: Heterogeneous Expectations , 2006 경영관련학회 통합학술대회 , Vol.1 , No.1 , pp.1 -15 (Aug, 2006)
4. [학술회의] 한광석, 원동철, N. Yannelis, Competitive Equilibrium with Short-Selling and Nontransitive Preferences , 2005년 정기학술대회 , Vol.1 , No.1 , pp.1 -12 (Nov, 2005)
5. [학술회의] 원동철, The fundamental theorem of asset pricing with taxes and transaction costs , 2005년 4차 정기학술발표회 , Vol.1 , No.1 , pp.267 -284 (Oct, 2005)
6. [학술회의] 원동철, 한광석, Redundant assets and arbitrage under portfolio constraints , Asian Decentralizataion Conference , Vol.1 , No.1 , pp.1 -30 (May, 2005)