Firms spend substantial resources on marketing and selling. Interpreting this as evidence of
frictions in product markets, which require firms to spend resources on customer acquisition …

This article develops a model of unemployment fluctuations. The model keeps the
architecture of the general-disequilibrium model of but takes a matching approach to the …

We analyze the joint dynamics of prices, productivity, and employment across firms, building
a dynamic equilibrium model of heterogeneous firms who compete for workers and …

Empirical evidence suggests that most firms operate in imperfectly competitive markets. We
develop a search-matching model between wholesalers and retailers. Firms face search …

We analyze a monetary economy where firms trading intermediate inputs engage in long-
term business-to-business (B2B) relationships. We focus on features such as search for …

The paper is organized in four chapters. The first describes the methodological framework of
the investigation, insisting on defining the sectoral changes and the relative prices, as well …

We present a model in which some goods trade in “customer markets” and advertising
facilitates long‐lived relationships. We estimate the model on US data and find a large …

This paper presents a parsimonious equilibrium business cycle model with trade frictions in
the product and labor markets. The model features unemployment and unsold production …

We introduce business-to-business (B2B) relationships into an otherwise standard model to
revisit two aspects of price dynamics in a unified analysis. On one side, the pass-through of …

We show how to implement a competitive search equilibrium in a fully-specified DSGE
environment. Competitive search, an equilibrium concept well-understood in labor market …