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The search-theoretic approach to monetary economics: a primer

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Author Info
Peter Rupert
Martin Schindler
Andrei Shevchenko
Randall Wright

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Abstract

The authors present simple versions of models used in the search-theoretic approach to monetary economics. They discuss results on the existence of monetary equilibria, the potential for multiple equilibria, and welfare. Using bilateral bargaining theory, they consider models where prices are fixed as well as those where prices are determined endogenously. After describing the frictions necessary to construct a model where money has an essential role, they conclude by reviewing many extensions and applications in the related literature

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Publisher Info
Article provided by Federal Reserve Bank of Cleveland in its journal Economic Review.

Volume (Year): (2000)
Issue (Month): Q IV ()
Pages: 10-28
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:fip:fedcer:y:2000:i:qiv:p:10-28

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Keywords: Money;

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

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  6. Burdett, Kenneth & Trejos, Alberto & Wright, Randall, 2001. "Cigarette Money," Journal of Economic Theory, Elsevier, vol. 99(1-2), pages 117-142, July. [Downloadable!] (restricted)
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  27. Kocherlakota, Narayana R., 1998. "Money Is Memory," Journal of Economic Theory, Elsevier, vol. 81(2), pages 232-251, August. [Downloadable!] (restricted)
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Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Martin Menner, 2006. "A Search-Theoretic Monetary Business Cycle Model with Capital Formation," Contributions to Macroeconomics, Berkeley Electronic Press, vol. 6(1), pages 1384-1384. [Downloadable!] (restricted)
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  2. Martin Menner, 2006. "Monetary Propagation In Search-Theoretic Monetary Models," Economics Working Papers we066426, Universidad Carlos III, Departamento de Economía. [Downloadable!]
  3. Benoît Julien & John Kennes & Ian King, 2005. "Monetary Exchange with Multilateral Matching," Discussion Papers 05-18, University of Copenhagen. Department of Economics, revised Oct 2005. [Downloadable!]
    Other versions:
  4. Peter Rupert & Martin Schindler & Randall Wright, 2000. "Generalized search-theoretic models of monetary exchange," Working Paper 0005, Federal Reserve Bank of Cleveland. [Downloadable!]
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  5. Gonzalo Camba-Mendez & Diego Rodriguez-Palenzuela, 2001. "Assessment criteria for output gap estimates," Working Paper Series 054, European Central Bank. [Downloadable!]
  6. Darrell Duffie & Yeneng Sun, 2004. "The Exact Law of Large Numbers for Independent Random Matching," Levine's Bibliography 122247000000000328, UCLA Department of Economics. [Downloadable!]
  7. Stephen Millard, 2007. "The foundations of money, payments and central banking: A review essay," Money Macro and Finance (MMF) Research Group Conference 2006 106, Money Macro and Finance Research Group. [Downloadable!]
  8. Giuseppe Mastromatteo & Luigi Ventura, 2007. "The origin of money: A survey of the contemporary literature," International Review of Economics, Springer, vol. 54(2), pages 195-224, June. [Downloadable!] (restricted)
  9. Etienne Lehmann, 2006. "A Search Model of Unemployment and Inflation," IZA Discussion Papers 2194, Institute for the Study of Labor (IZA). [Downloadable!]
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  10. Nicola Amendola, 2008. "A "Double Coincidence" Search Model of Money," CEIS Research Paper 126, Tor Vergata University, CEIS, revised 18 Jul 2008. [Downloadable!]
    Other versions:
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