A Dynamic Equilibrium Model of Search, Bargaining, and Money
نویسندگان
چکیده
منابع مشابه
Money and Banking in Search Equilibrium
“The theory of banking relates primarily to the operation of commercial banking. More especially it is chiefly concerned with the activities of banks as holders of deposit accounts against which cheques are drawn for the payment of goods and services. In Anglo-Saxon countries, and in other countries where economic life is highly developed, these cheques constitute the major part of circulating ...
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We compare three pricing mechanisms for monetary economies: bargaining (search equilibrium); price taking (competitive equilibrium); and price posting (competitive search equilibrium). We do this in a framework that, in addition to considering different mechanisms, extends existing work on the microfoundations of money by allowing a general matching technology and endogenous entry. We study how...
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The labor market, as one of the four markets, plays an important role in economic growth and development. So review developments in the labor market because of its close relationship with developments in other sectors is of great importance. This study tries to examine the dynamics of the labor market by adjusting for a New Keynesian dynamic stochastic general equilibrium model for the Iranian ...
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A monetary search model with match specific preferences and traded quantities is analyzed to assess how aggregate output, the price level and the velocity of money are affected by improvements in transaction versus productive technologies. The latter implies a systematic decline in prices and no prediction for monetary velocity, the former is ambiguous with respect to co-movements of output and...
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Adam Smith’s classic treatise An Inquiry into the Nature and Causes of the Wealth of Nations effectively laid down the foundations of the economics discipline. Implicit in his analyses lies a theory of perfect competition, which was subsequently developed by Alfred Marshall and Leon Walras. The theory of perfectly competitive equilibrium (or competitive equilibrium, for short), which was built ...
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ژورنال
عنوان ژورنال: Journal of Economic Theory
سال: 1998
ISSN: 0022-0531
DOI: 10.1006/jeth.1997.2353