This article investigates the characteristics of stationary single‐price equilibrium in a
monetary random‐matching model where agents can hold an arbitrary amount of divisible …

Recent work has reduced the gap between search-based monetary theory and mainstream
macroeconomics by incorporating into the search model some centralized markets as well …

Virtually all simple search models of money assume agents with money cannot produce,
and so everyone has either 0 or 1 units of money in steady state. We alternatively assume …

This paper analyses the effects of money shocks on macroeconomic aggregates in a
tractable flexible-price, incomplete-markets environment that generates persistent wealth …

This paper analyzes monetary exchange in a search model allowing for multilateral matches
to be formed, according to a standard urn-ballprocess. We consider three physical …

We present new results on existence, the number of equilibria, and wel0 fare for
search0theoretic models of money that extend the literature in sev0 eral ways. For example …

Recent work has reduced the gap between search-based monetary theory and mainstream
macroeconomics by incorporating into the search model some centralized markets as well …

This paper analyzes monetary exchange in a search model allowing for multilateral matches
to be formed, according to a standard urn# ball process. We consider three physical …