Using a search-theoretical framework, we study how a home seller's choice of whether or not to use a broker depends on different market conditions. We analyze the role that the broker plays in the house-selling process by examining the expected time-to-transaction, the expected transaction...

Long times series on production of gold and the value of gold, taken from Jastram's book 'The Golden Constant', are used to estimate a Cagan-type demand function that relates the real total value of gold to its expected rate of return. The model assumes that gold production and a latent scale...