定向匹配与货币交换

Directed Matching and Monetary Exchange

Econometrica · 2003
被引 132
人大 A+FT50ABS 4*

中文导读

构建了一个货币交换模型,其中交易者不是随机相遇,而是通过均衡决定谁与谁匹配,展示了如何在动态模型中形式化这一过程,并举例说明其在货币理论中的应用。

Abstract

We develop a model of monetary exchange where, as in the random matching literature, agents trade bilaterally and not through centralized markets. Rather than assuming they match exogenously and at random, however, we determine who meets whom as part of the equilibrium. We show how to formalize this process of directed matching in dynamic models with double coincidence problems, and present several examples and applications that illustrate how the approach can be used in monetary theory. Some of our results are similar to those in the random matching literature; others differ significantly.

定向匹配货币交换双边交易均衡匹配