Search, money, and inflation under private information
نویسندگان
چکیده
منابع مشابه
Search, money, and inflation under private information
____________________________________________________________ I study a version of the Lagos-Wright (2003) model of monetary exchange in which buyers have private information about their tastes and sellers make take-it-or-leave-it-offers (i.e., have the power to set prices and quantities). The introduction of imperfect information makes the existence of monetary equilibrium a more robust feature...
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Bank of Canada working papers are theoretical or empirical works-in-progress on subjects in economics and finance. The views expressed in this paper are those of the authors. No responsibility for them should be attributed to the Bank of Canada. Abstract We study price posting with undirected search in a search-theoretic monetary model with divisible money and divisible goods. Ex ante homogeneo...
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ژورنال
عنوان ژورنال: Journal of Economic Theory
سال: 2008
ISSN: 0022-0531
DOI: 10.1016/j.jet.2007.01.016