Output, Prices, and the Velocity of Money in Search Equilibrium
用货币搜寻模型分析技术进步如何影响总产出、价格水平和货币流通速度，发现不同技术对三者关系的影响不同。
A monetary-search model with match specific preferences and traded quantities is analyzed to assess how aggregate output, the price level, and the velocity of money are affected by various forms of technological change. Changes in the productive technology lead to output and prices moving in opposite directions but provide no prediction for monetary velocity. The matching technology directly affects monetary velocity and output but has little impact on prices. Transactions technologies, which affect the fixed cost of trading, are ambiguous with respect to comovements of output and prices but systematically impact velocity.