Similar Search Results

Iancu, Aurel - 2011

characteristic of the three generations of models; 2. Models based on financial instability hypothesis, taking into account both the …'s concept of financial instability and then analyse the content of some simplified models. …

Persistent link: https://www.econbiz.de/10010527416

An inventory of simple monetary policy rules in a new Keynesian macroeconomic model

Lubik, Thomas A.; Marzo, Massimiliano - 2003

We derive necessary and suffcient conditions for simple monetary policy rules that guarantee equilibrium determinacy in the New Keynesian monetary model. Our modeling framework is derived from a fully specified optimization model that is still amenable to analytical characterisation. The...

Persistent link: https://www.econbiz.de/10010293494

The dynamics of balanced expansion in monetary economies with sovereign debt

Böhm, Volker - 2018

The paper examines the role of fiscal and monetary policy on the dynamics of monetary expansion in a macroeconomy. Its microeconomic structure defined by producers with neoclassical production functions, heterogeneous OLG consumers, and a stationary fiscal and monetary policy induces a...

Persistent link: https://www.econbiz.de/10012042141

The dynamics of instability

Barilla, César; Gonçalves, Duarte - In: Theoretical Economics 19 (2024) 1, pp. 365-405

We study a model in which two players with opposing interests try to alter a status quo through instability …-generating actions. We show that instability can be used to secure longer-term durable changes, even if it is costly to generate and does … not generate short-term gains. In equilibrium, instability generated by a player decreases when the status quo favors them …

Persistent link: https://www.econbiz.de/10014536977

Money and Prices: A Model of Search and Bargaining

Shi, Shouyong - 1995

This paper makes commodities divisible and incorporates bargaining into the search-theoretic model of money to determine the purchasing power of money (or price). It is shown that two monetary equilibria always coexist where flat money is universally accepted. The two equilibria differ in price,...

Persistent link: https://www.econbiz.de/10011940575

Credit and Money in a Search Model with Divisible Commodities

Shi, Shouyong - 1995

This paper examines the competition between money and credit in a search model with divisible commodities. It is shown that flat money can be valuable even though it yields a lower rate of return than the coexisting credit. The competition between money and credit increases efficiency. The...

Persistent link: https://www.econbiz.de/10011940576

An analytical model of search and bargaining with divisible money

Kamiya, Kazuya; Kubota, So - In: Theoretical Economics 20 (2025) 2, pp. 713-761

We propose a standard search and bargaining model with divisible money, in which only the random matching market opens and the generalized Nash bargaining settles each trade. Assuming fixed production costs, we analytically characterize a tractable equilibrium, called a pay-all equilibrium , and...

Persistent link: https://www.econbiz.de/10015419698

Non-standard choice in matching markets

Caspari, Gian; Khanna, Manshu - 2022

We explore the possibility of designing matching mechanisms that can accommodate non-standard choice behavior. We pin down the necessary and sufficient conditions on participants' choice behavior for the existence of stable and incentive compatible mechanisms. Our results imply that...

Persistent link: https://www.econbiz.de/10013464276

Optimal Truncation in Matching Markets

Coles, Peter; Shorrer, Ran - 2013

Since no stable matching mechanism can induce truth-telling as a dominant strategy for all participants, there is often room in matching markets for strategic misrepresentation (Roth [25]). In this paper we study a natural form of strategic misrepresentation: reporting a truncation of one's true...

Persistent link: https://www.econbiz.de/10010313220

Monotonicity and Nash implementation in matching markets with contracts

Haake, Claus-Jochen; Klaus, Bettina - 2005

We consider general two-sided matching markets, so-called matching with contracts markets as introduced by Hatfield and Milgrom (2005), and analyze (Maskin) monotonic and Nash implementable solutions. We show that for matching with contracts markets the stable correspondence is monotonic and...

Persistent link: https://www.econbiz.de/10010272554