Search, money, and capital: a neoclassical dichotomy
S. Boragan Aruoba () and
Randall Wright ()
Proceedings, 2003, pages 1085-1117
Recent work has reduced the gap between search-based monetary theory and mainstream macroeconomics by incorporating into the search model some centralized markets as well as some decentralized markets where money is essential. This paper takes a further step toward this integration by introducing labor, capital, and neoclassical firms. The resulting framework nests a search-theoretic monetary model and a standard neoclassical growth model as special cases.
Keywords: Monetary theory; Money; Search theory (search for similar items in EconPapers)
References: Add references at CitEc
Citations View citations in EconPapers (25) Track citations by RSS feed
There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.
Working Paper: Search, money and capital: a neoclassical dichotomy (2002)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: http://EconPapers.repec.org/RePEc:fip:fedcpr:y:2003:p:1085-1117
Ordering information: This journal article can be ordered from
Access Statistics for this article
More articles in Proceedings from Federal Reserve Bank of Cleveland Contact information at EDIRC.
Series data maintained by 4D Library ().