This article provides a practical overview for applying the global games approach to solve models with multiple equilibria that are often used in discussions on fi- nancial and macroprudential policies. Global games offer a tractable approach to resolve multiple equilibria by introducing...

This paper studies mediation in infinitely repeated games with perfect monitoring. In departure from the literature, we assume that all private messages and internal records are publicly revealed at the end of each stage. We call the resulting equilibrium concept mediated subgame perfect...

This paper proves the existence of a non-stationary equilibrium in the canonical search-and-matching model with heterogeneous agents. Non-stationarity entails that the number and characteristics of unmatched agents evolve endogenously over time. An equilibrium exists under minimal regularity...