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Money in Search Equilibrium, in Competitive Equilibrium, and in Competitive Search Equilibrium

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Listed:
  • Randall Wright
  • Guillame Rocheteau

Abstract

We compare three market structures for monetary economies: bargaining (search equilibrium); price taking (competitive equilibrium); and price posting (competitive search equilibrium). We also extend work on the microfoundations of money by allowing a general matching technology and entry. We study how equilibrium and the effects of policy depend on market structure.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Randall Wright & Guillame Rocheteau, 2003. "Money in Search Equilibrium, in Competitive Equilibrium, and in Competitive Search Equilibrium," Levine's Bibliography 666156000000000302, UCLA Department of Economics.
  • Handle: RePEc:cla:levrem:666156000000000302
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    File URL: http://www.ssc.upenn.edu/~rwright/papers/competitive.pdf
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    References listed on IDEAS

    as
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    More about this item

    JEL classification:

    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation

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