We propose a standard search and bargaining model with divisible money, in which only the random matching market opens … tractable equilibrium, called a pay‐all equilibrium , and prove its existence. Each buyer pays all the money holding as a corner … power parameter affects the distribution of the money holdings and possibly induces economic inefficiency. We propose a …

money and credit coexist. An increase in inflation affects unemployment through two channels: the matching channel and the …This paper studies the impact of informality on the long-run relationship between inflation and unemployment in … unemployment. On the other hand, the lower impact of inflation on formal transactions where credit is partially available shifts …

In this paper I build a North-South model of international trade, economic growth and search-frictional unemployment in … the effects of intellectual property rights protection and trade liberalization on unemployment and welfare in the North …. Intellectual property rights protection decreases unemployment and increases welfare. Trade liberalization increases welfare but …