Random Matching Models and Money: The Global Structure and Approximation of Stationary Equilibria
AbstractRandom matching models with different states are an important class of dynamic games; for example, money search models, job search models, and some games in biology are special cases.In this paper, we investigate the basic structure of the models: the existence of equilibria, the global structure of the set of equilibria, and the approximation and computation of equilibria.Under conditions which are typically satisfied in monetary models, the equilibrium condition can be considered as a nonlinear complementarity problem with some new feature.
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Bibliographic InfoPaper provided by Tilburg University, Center for Economic Research in its series Discussion Paper with number 2003-70.
Date of creation: 2003
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Web page: http://center.uvt.nl
matching; money; equilibrium analysis;
Find related papers by JEL classification:
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- C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
- C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
- D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
- E40 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - General
This paper has been announced in the following NEP Reports:
- NEP-CMP-2003-08-24 (Computational Economics)
- NEP-GTH-2003-08-24 (Game Theory)
- NEP-MAC-2003-08-24 (Macroeconomics)
- NEP-MON-2003-08-24 (Monetary Economics)
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