Endogenous Matching and Money with Random Consumption Preferences

Thomas Hogan () and William Luther

The B.E. Journal of Theoretical Economics, 2019, vol. 19, issue 2, 9

Abstract: Current money matching models employ either random matching or endogenous matching processes, both of which oversimplify the problem. We maintain that, although most economic interactions are intentional, some randomness remains. We offer an endogenous matching model of money with random consumption preferences. Our model preserves the intentionality of economic interactions while leaving scope for chance. We identify the conditions for potential monetary and nonmonetary equilibria and compare them to those of other endogenous matching and random matching models.

Keywords: money matching; random matching; endogenous matching; monetary equilibrium; monetary policy (search for similar items in EconPapers)
JEL-codes: C78 E41 (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (1)

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DOI: 10.1515/bejte-2017-0170

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