The Search-Theoretic Approach to Monetary Economics: A Primer
用简单模型介绍货币经济学的搜寻理论方法,讨论货币均衡的存在性、多重均衡和福利,并回顾相关文献的扩展与应用,适合想了解该理论基础的学者。
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