Federal Reserve Bank of St. Louis Review, July/August 2011, 93 (4), pp. 223-33. inflation as
a meaningful way to interpret the inflation process in the United States. One immediate …

Numerous studies have documented substantial deviations from the law of one price for
consumer goods. However, in most cases small transaction costs can explain these …

Monetary models that specify explicit frictions to generate money demand have been
developed over the last 20 years and have been used to address many questions. In this …

Monetary search theory implies that the real effects of inflation via its impact on price
dispersion depend on the level of search costs and, thus, on the level of market integration …

Ekonomik krizlerin gelişmiş ve gelişmekte olan ülkeleri olumsuz olarak etkilemesi, krizlerin
ülkeler arasında yayılım göstermesi nedeniyle ekonomik konjonktürün hangi rejimde …

This paper studies the effect of inflation on welfare in a monetary economy with price
dispersion and consumer search. When facing greater price dispersion with higher inflation …

We assess the ability of the cross sectional price distribution to react to shocks from the point
of view of a Prescott “hotels” type model, using a sample of 435 products in 75 stores over …

By lots of economists and central banks, price stickiness is believed to be the main factor
which brings about the non-neutrality of money. Based on the belief, most of the New …

This dissertation consists of two essays concerning search-theoretic monetary economics.
The issues studied here are about search and matching, which requires models with an …

In “Middlemen in Limit-Order Markets,” Jovanovic and Menkveld analyze the role of
middlemen in asset markets who are assumed to have superior information and, hence …