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Heterogeneity and Lotteries in Monetary Search Models

Sébastien Lotz (), Andrei Shevchenko and Christopher Waller ()

Journal of Money, Credit and Banking, 2007, vol. 39, issue 2-3, 703-712

Abstract: We introduce ex ante heterogeneity into the Berentsen, Molico, and Wright monetary search model with lotteries. We show that their three main results regarding lotteries do not survive this modification of the environment. Copyright 2007 The Ohio State University.

Date: 2007
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Handle: RePEc:mcb:jmoncb:v:39:y:2007:i:2-3:p:703-712