We are constructing an imperfect competition general equilibrium model, with non-consumable money and labor market; our … occurring at all three markets: labor, goods, and credit market, with a fixed money supply from a bank.A worker and an … equilibrium result, when a total value of default is bigger than total money supply …

In this short note, I examine the rationality of money-search equilibrium in a basic second-generation money search … model, which is a perfectly divisible goods and indivisible money model. I then show that only an inflationary economy can … alerts us against employing the second-generation model to analyze a deflationary economy and com-modity money …

In matching markets, the existence of stable matchings can only be guaranteed under substantive restrictions on …, following the work of Aumann (1964) on general equilibrium theory. We find four main results: First, in many-to-many matching …

In an infinite-time decentralized sequence economy, agents use fiat money to bridge markets as if they make trades in a … the process how agents decide the fiat money's nominal value. Three new concepts are suggested – plan of choices … all agents' accepting fiat money with unchanged nominal value is a Nash equilibrium, which guarantees fiat money …