Money in search equilibrium, in competitive equilibrium, and in competitive search equilibrium

Guillaume Rocheteau () and Randall Wright ()

No 405, Working Paper from Federal Reserve Bank of Cleveland

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.

Keywords: Money; Equilibrium (Economics) (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cba, nep-dge, nep-mac and nep-mon
Date: 2004

Downloads: (external link)
http://www.clevelandfed.org/Research/Workpaper/2004/wp04-05.pdf (application/pdf)

Related works:
Working Paper: Money in Search Equilibrium, in Competitive Equilibrium, and in Competitive Search Equilibrium (2003)
Working Paper: Money in Search Equilibrium, in Competitive Equilibrium, and in Competitive Search Equilibrium (2003)
Journal Article: Money in Search Equilibrium, in Competitive Equilibrium, and in Competitive Search Equilibrium (2005)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: http://EconPapers.repec.org/RePEc:fip:fedcwp:0405

Ordering information: This working paper can be ordered from

Access Statistics for this paper

More papers in Working Paper from Federal Reserve Bank of Cleveland
Contact information at EDIRC.
Series data maintained by Diane Rosenberger ().