Asset dynamics, liquidity and inequality in decentralized markets
Maurizio Iacopetta () and
Additional contact information
Raoul Minetti: Michigan State University
Sciences Po publications from Sciences Po
The Kiyotakiand Wright model has exerted a considerable influence on the monetary search literature. We argue that the model also delivers important insights into abroader range of macroeconomic and development issues. The analysis studies howmarket frictions and the liquidity of assets affect the distribution of income. Experimentsillustrate how the economy adjusts to shocks to asset returns and to the matchingtechnology. They also deal with long-run transition. An experiment interprets thereversal of fortune hypothesis as a situation in which an economy with a low-returnasset takes over a similar economy with a high-return asset
JEL-codes: C61 C63 E41 E27 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-dge and nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Published in Economic Inquiry, 2019, vol. 57, pp.537-551
Downloads: (external link)
https://spire.sciencespo.fr/hdl:/2441/2bedunljk79g ... omic-inquiry.pdf.pdf (application/pdf)
Journal Article: ASSET DYNAMICS, LIQUIDITY, AND INEQUALITY IN DECENTRALIZED MARKETS (2019)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:spo:wpmain:info:hdl:2441/2bedunljk79gt86fbf15pvnnc5
Access Statistics for this paper
More papers in Sciences Po publications from Sciences Po Contact information at EDIRC.
Bibliographic data for series maintained by Spire @ Sciences Po Library ().