Money in search equilibrium, in competitive equilibrium, and in competitive search equilibrium

We compare three market structures for monetary economies: bargaining (search equilibrium); price taking (competitive equilibrium); and price posting (competitive search equilibrium). We also extend work on the microfoundations of money by allowing a general matching technology and entry. We study how equilibrium and the effects of policy depend on market structure.

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Year of publication:	2004
Authors:	Rocheteau, Guillaume ; Wright, Randall
Institutions:	Federal Reserve Bank of Cleveland
Subject:	Money \| Equilibrium (Economics)

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Extent:	application/pdf
Series:	Working Paper.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 0405
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005428390