This paper studies the welfare cost of inflation in a frictional monetary economy with endogenous consumer search. Equilibrium entails price dispersion, where sellers compete for buyers by posting prices. We identify three channels through which inflation affects welfare. The real balance channel is the source of welfare loss. Its interaction with the price posting channel generates a welfare c...

Abstract “Queer” is a relatively recent and somewhat controversial term in African studies. Yet it proving to be productive, not only for understanding subjectivities of sexuality gender, but also situating Africa’s position the larger economy knowledge. Otu van Klinken explore productive tensions between “queer” “Africa,” aim read Africa as queer from Africa. Thus, rather than imagining polar ...

Incorporating weakly nonseparable preferences into the familiar time-preference model, we emphasize a role of steady-state welfare changes in determining the effect of permanent tariffs on the current account. The effect consists of: a welfare effect, due to steady-state welfare changes, which is negative (positive) when preferences toward imports are more (less) wealth-enhanced than toward exp...

Generalized Second Price (GSP) auctions are widely used by search engines today to sell their ad slots. Most search engines have supported the broad match between queries and bid keywords when executing the GSP auctions, however, it has been revealed that the GSP auction with the standard broad-match mechanism they are currently using (denoted as SBM-GSP) has several theoretical drawbacks (e.g....

Keywords History of childhood, transformation, everyday life, Central and Eastern Europe, social welfare